One of the first Brazilian startups to become unicorn (as newcomers who reach the value of US$ 1 billion are called), in 2019, Curitiba Ebanx has just acquired another national fintech, Remessa Online, for R$ 1.2 billion. The acquired company specializes in international financial transfer services for individuals and small and medium-sized companies. With this new move, Ebanx consolidates the ecosystem that established it as the official operator of billionaire payments in local currency from foreign giants such as AliExpress, Spotify and Uber.
The agreement provides that the founders of Remessa Online continue to lead the division within Ebanx, starting to serve large customers as well. In addition, the acquired company will preserve the partnership with Nubank, announced in July, for bank transfers. “We believe that Remessa Online will complement Ebanx’s services in Latin America and we can accelerate the expansion of their plans”, said Ebanx CEO João Del Valle, who together with Wagner Ruiz and Alphonse Voigt founded fintech from Paraná.
RESOURCES The acquisition came at a time when Ebanx was financially muscled. The unicorn had received an investment of US$ 340 million from the American company Advent International, one of the largest in the world in “private equity”. In addition, the company from Paraná received funds from other investors in the sector, such as Lead Edge, New York Avenue, Manzat Inversiones, among others. Money shouldn’t be a problem.
Fintech is preparing to go public in 2022, in a deal that could value the company at more than $10 billion. To calculate the price, the market marks the opening of startup Dlocal, a Uruguayan payments company that made its IPO on Nasdaq in June this year and was valued at US$ 11 billion, raising US$ 618 million.
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