Brazilian fintech EBANX announced on Wednesday it has secured a $30 million investment from FTV Capital. The company states it is focused on helping global merchants grow exponentially and increase revenue in Latin America by offering end-to-end local payments solutions, which allows businesses to sell to Latin Americans without bureaucracy.
EBANX also processes payments for major merchants from 50 different countries, including the U.S. and China. The company reported that just last year it processed $1.2 billion in cross-border transactions and achieved the milestone of helping more than 30 million users from the region gain full access to major international e-commerce merchants. While sharing more details about the company, Alphonse Voigt, co-founder and CEO of EBANX, stated:
“We started EBANX almost six years ago with a clear understanding that we had a wide-open ocean in front of us. At that time, nobody was doing what we were doing and all of our focus was dedicated to attracting new merchants to our platform. Integrate with EBANX and sell two to three times more within the region was, and still is, our mantra.
“By 2019, there will be more than 150 million online consumers throughout Latin America, and we will be central to helping facilitate this expansion seamlessly. Backed by more than 300 ebankers (employees), Endeavor’s know-how in high-impact entrepreneurship and FTV’s expertise with many years of payments industry experience and proven track record, we are fully poised to take EBANX to unprecedented levels of growth, serving merchants worldwide.”
In regards to the investment, Robert Anderson, principal at FTV Capital, added:
“The EBANX management team has built an impressive operation that has capitalized on strong global e-commerce momentum and is efficiently solving a pain point for international merchants seeking to serve Latin American customers. The company’s unique API integration streamlines payment acceptance, minimizing inherent cross-border friction and driving strong adoption by blue chip e-commerce brands. We are incredibly excited to be a part of this next phase of EBANX’s growth.”