The fintech unicorn that processes payments for global companies in Latin America and owns LABS, EBANX, launched a new brand this Thursday (10th) and announced the expansion of its international teams, marking its tenth anniversary. Co-founder and CEO João Del Valle, however, said that new funding rounds had been postponed to at least the second half of the year due to the volatility that has been affecting companies’ valuations and investors’ moods.
Earlier this year, EBANX had already said that it would not do an IPO in the United States. Instead, the company will only seek more resources if it finds an interesting company to acquire, said Del Valle. In December, the company bought the Brazilian international remittances platform Remessa Online for $229 million.
This is not to say, however, that expansion plans have stopped. On the contrary.
Along with the new brand, EBANX announced the expansion of its international teams, a strategy under the management of the new global payments president, Paula Bellizia, former Google executive and former president of Microsoft in Brazil.
As it is already doing in Mexico, the fintech is expanding teams in China, the United States, and Europe. Part of the funds for this expansion comes from the $430 million raised in June last year with the private equity fund Advent.
Counting the acquisitions of Juno and Remessa Online, the fintech currently has 1,700 employees. Last year, EBANX‘s international team grew by almost 70%, and it’s reaching 100 people now at the beginning of 2022.
Today, EBANX has operations in 15 countries and teams in more than ten of them. Fintech processes payments for more than 1,000 global companies in Latin America, such as Amazon, SHEIN, Shopee, Spotify, Uber, and more than 35,000 companies in Brazil. In addition to Brazil, in January, when it opened an office in Mexico City, the company also announced that it was starting its local operations in the country, meaning local payments by Mexican companies.