Fintech Company EBANX is the Newest Unicorn in Latin America
EBANX, a payments company headquartered in Brazil and co-founded by Endeavor Entrepreneurs Alphonse Voigt, João Del Valle, and Wagner Ruiz, has the newest unicorn in Latin America — and the Endeavor Catalyst portfolio — after a follow-on investment round from FTV Capital helped elevate the company’s valuation to over $1 billion.
EBANX is the fifth company that has received investment from Fund II of Endeavor Catalyst to become a unicorn, joining Cabify (Spain), Rappi (Colombia), Bukalapak (Indonesia), and Checkout.com (UAE).
EBANX is a cross-border payment solutions provider that is revolutionizing e-commerce in Brazil. The company allows Brazilians to pay for online purchases from foreign merchants using domestic payment methods, bank transfers and domestic credit card; whereas previously, only Brazilians with access to international credit cards could transact with these merchants.
With Latin America’s fast-growing market and highly positive forecasts for the region, EBANX consolidates itself as a complete payment solution for global companies looking to expand their businesses in Latin America. Global ecommerce enterprises such as AliExpress, Wish, Gearbest, Pipedrive, Spotify, and Airbnb (these two in a partnership with Worldline) rely on EBANX to power their business in the region. EBANX’s solution goes beyond the payment processing itself – providing market intelligence services, analytics, anti-fraud strategies, 24/7 customer service in local language of Latin American customers, and localized marketing consultancy.
“Becoming a unicorn reflects the unique solutions we have created to meet the demands of some of the world’s most recognized brands since we founded EBANX in 2012,” said Alphonse Voigt, co-founder and CEO. “From the start, our focus has been on connecting people in Latin America to global companies providing access and a seamless ability to transact. This investment from our partner FTV Capital highlights the continued success we have had in delivering best-in-class platform to our customers, and shines the light on Latin America as a massively attractive region for commerce.”
Based in Curitiba, Brazil, and selected into the Endeavor network in December 2012, EBANX has been one of Endeavor Brazil’s fastest growing portfolio companies for several consecutive years. In December 2017 EBANX raised a $30 million US dollars growth equity investment from FTV Capital, with participation from Endeavor Catalyst. The funding was focused on expanding the reach of EBANX operations within Latin America, and it was the first investment raised by the company. Since that investment, EBANX has grown 80% across all its verticals, and today has operations in Brazil, Mexico, Argentina, Colombia, Chile, Peru, Ecuador, and Bolivia.
EBANX is continuing to expand its operations throughout Latin America and aims to increase its global business development efforts, as well as grow its product portfolio, including the expansion of EBANX Pay, a solution for local payment processing in Latin America.
Learn more about EBANX and the latest investment round here.