Brazilian payments technology firm EBANX has secured a follow-on investment from FTV Capital to achieve unicorn status in Latin America.
The amount of investment was not divulged, though it was said to be ‘significant’.
The new funding will help EBANX to bolster its product line-up. It includes expansion of the payment processing solution EBANX Pay, which was first made available in Brazil.
Plans are on to introduce EBANX Pay in Colombia next year followed by a roll-out in other countries.
Additionally, EBANX plans to strengthen its operations across Latin America and initiatives for global business development.
EBANX co-founder and CEO Alphonse Voigt said: “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.”
Founded in 2012, EBANX focuses on connecting global businesses with Latin American consumers. It offers more than 100 Latin American payment options to global merchants facilitating cross-border ecommerce transactions.
Its clientele includes AliExpress, Wish, Gearbest, Pipedrive, Spotify and Airbnb. Recently, EBANX also partnered with Shopify, Uber Pay and Visa, among others.
Besides processing payments, the firm offers market intelligence services, analytics and anti-fraud strategies. It also supports a 24/7 customer service in local language.
Voigt added: “EBANX is already a leader in cross-border payment processing, specialising in Latin America, and we will continue to build on this expertise.
“We also want to use our experience to build and enhance different products, such as local processing.
“By 2022 we aim to be the leader of both cross-border and local payments, for global companies in Latin America.”