RIO DE JANEIRO, BRAZIL - Funds managed by Advent International are investing US$430 million in the Brazilian payments company Ebanx, financing its growth in Latin America ahead of an initial public offering planned for coming months, Ebanx Chief Executive said on Tuesday.
CEO and co-founder Joao Del Valle said the company plans to use the proceeds from acquisitions to further expand operations in countries such as Mexico, Colombia and Argentina. Advent is also buying a stake from Ebanx’s existing investors.
The companies did not disclose Ebanx’s valuation or the size of the minority stake acquired by Advent . . .