Brazilian fintech company EBANX has recently secured fresh funds worth $430 million from Advent International and is looking to invest the money to develop the highest performing digital payment solutions and expand its market presence further. It is one of the largest rounds ever raised by a Brazilian fintech company.
João Del Valle, CEO, and co-founder of EBANX said, “Our goal has always been to develop the highest-performing digital payments solutions, recruit the best technology talent and business minds, and deliver a superior value proposition that makes it easier and more cost-effective for global companies to access and grow their businesses across Latin America. We are excited to have Advent join us on our journey and help us accelerate our growth.”
Advent International is one of the largest private equity firms in the world and is also one of the most successful investors in the payments industry. They have invested in companies such as Vantiv, Worldpay, Nets, Nexi, Planet, Xplor Technologies, Prisma, Concardis, Monext, and Stone. Advent International joins FTV Capital as a minority investor in EBANX.
Last month, EBANX announced that they have appointed João Del Valle as their new chief executive officer (CEO). Del Valle will be replacing Alphonse Voigt, who was CEO of the company for nine years. Apart from being the present CEO, Del Valle is also one of the co-founders of EBANX and worked as the chief operating officer (COO) for three years and as the chief technology officer (CTO) for seven years, prior to this.