Brazilian cross-border payment processing firm Ebanx raises $30m

Brazilian cross-border payment processing firm Ebanx raises $30m

Ebanx, a Brazilian startup bringing cross-border e-commerce payments to Latin America, has raised $30 million from FTV Capital, with participation from Endeavor Catalyst Fund.

Founded in 2012, last year Ebanx processed $1.2 billion in cross-border transactions, helping 30 million people from countries including Brazil, Mexico, Argentina and Chile gain access to international ecommerce sites.

The firm works with over 500 merchants, enabling the likes of Spotify, Airbnb and Udacity to accept more than 100 Latin American local payment options.

Recently the firm secured a UK e-Money license from the FCA and is also planning to open a new sales and IT office in San Francisco as it works to ensure it is the entry point for sellers looking to Latin America.

"Integrate with Ebanx and sell two to three times more within the region was, and still is, our mantra," says Alphonse Voigt, CEO, Ebanx. "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."

Ebanx's first institutional investor, FTV has a history of scaling global fintech firms, including WePay, which was recently acquired by JPMorgan Chase, and CardConnect, bought for $750 million by First Direct.

As part of the transaction, FTV Capital principal Robert Anderson will join the Ebanx board of directors, and partner Chris Winship will become a board observer.

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