Latin American Payments Processor EBANX Achieves Unicorn Status

October 17, 2019 | FinTech, News

Brazil-based fintech and payment processor EBANX is a newly-minted unicorn.

The payments and fintech startup, which enables transactions between global companies and Latin American commerce, received a “significant” investment from FTV Capital.

FTV Capital is a growth equity investment firm. EBANX did not disclose the amount of the investment, but suffice it to say it conferred the sought-after ‘unicorn’ tag on the company. Unicorns are tech startups with a valuation of $1 billion or more.

The company will use the money to hire in new markets and launch local payment services in other LatAm territories such as Colombia.

EBANX clientele

Founded in 2012, EBANX has become a one-stop-shop for businesses looking to access the lucrative LatAm market. Apart from the ubiquitous payment processing services, it offers market intelligence services, analytics, anti-fraud strategies, 24/7 customer service in the local language of Latin American customers, and localized marketing consultancy.

Global e-commerce enterprises such as AliExpress, Wish, Gearbest, Pipedrive, Spotify, and Airbnb are EBANX customers.

The fintech has recently announced partnerships with Uber Pay, Shopify, Visa and Coursera, Scribd, Ctrip.

“EBANX is already a leader in cross-border payment processing, specializing in Latin America,” said Alphonse Voigt, co-founder, and CEO. “By 2022, we aim to be the leader of both cross-border and local payments for global companies in Latin America.”

EBANX expects to process $2 billion in payments by the end of the year.


EBANX was initially backed by a $30 million growth equity investment from FTV Capital in December 2017, including participation from Endeavour Catalyst.

Since that investment, the fintech startup has reported a growth of 80% across all its businesses.

Further, in two years, it has nearly doubled processing volumes to over $2 billion US dollars, according to Robert Anderson, partner at FTV Capital.

Anderson expects the Latin American e-commerce market to double by 2023.

Brazilian fintechs

Bazilian fintech Creditas, a São Paulo-based secured lending platform, announced a $231 million funding round in July and attained a valuation of $750 million.

However, the largest fintech startup in Latin America is credit card issuer Nubank.

[Related Story: Nubank, the Brazilian Fintech, Hits a Purple Patch ]

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.


Alt Insights

November 20, 2019

Prison For the Man Who Tried to Scam The Mooch

Prison For the Man Who Tried to Scam The Mooch

Latest Alternative Investment News

Bitcoin Plunges to Sub-$7000 Levels Before Recovering
November 22, 2019     Digital Assets, News

Bitcoin plummeted today after back-to-back crackdowns on virtual currencies by the Chinese Government. Yesterday, regulators in Shenzen, and today, in Shanghai, threatened to crack down on alleged illegal activities. The…

London Stock Exchange and PrimaryBid To Democratize Public Equity Offerings
November 22, 2019     FinTech, Latest News, News

The London Stock Exchange (LSE) has tied-up with fintech PrimaryBid to give retail investors access to share offerings. PrimaryBid’s internet-based investment platform will allow retail investors to digitally access share…

Ray Dalio Is Shorting the World
November 22, 2019     Hedge Funds, Investments, News

Hedge fund manager Ray Dalio is shoring the markets. The largest hedge fund in the world – Bridgewater Associates – has a $1.5 billion bet that the markets will fall…

A UK Legal Task Force Clarifies on Cryptoassets and Smart Contracts
November 22, 2019     Digital Assets, News

A UK Jurisdiction Task Force has issued a legal statement on cryptoassets and smart contracts. Issued under the aegis of the Law Tech Delivery Panel, the document is a result…