Ebanx delays US IPO due to market volatility

FinTech company Ebanx recently delayed its initial public offering (IPO) in the United States due to market volatility, Bloomberg reported on Friday (February 4).

The company, backed by Advent International, recently said it could seek a valuation in excess of $10 billion. Since its inception ten years ago, Ebanx’s services have helped companies like Spotify, Uber and Amazon bill for their products and services in Latin America.

In a 2021 interview, CEO João Del Valle told Bloomberg that the company was preparing for an IPO and preparing to expand its payment processing services across the region. However, the company said it does not plan to go public in the first half of 2022, as previously reported.

“Ebanx remains mindful of the best market timing for a potential IPO,” the company said in a statement, Bloomberg reported.

Ebanx added that since the volume handled more than doubled last year, it will continue to expand its operations. Stock markets were down at the start of the year. The S&P 500 fell sharply by 5.3% in January, while the Nasdaq fell 9%.

Ebanx also recently appointed former Google executive Paula Bellizia as president of global payments, where she will lead the company’s global sales, marketing, operations and expansion teams. She will focus on expanding and consolidating the company’s brand.

See also: Paula Bellizia, ex-executive of Google, joins FinTech Ebanx

“Ebanx has a consistent trajectory, launching products and services that open many doors: from the enterprise market to the consumer market, from consumers to top brands, and from a digital economy that creates more access and fosters ecosystems. “, said Bellizia. “I’m excited for the challenge of continuing and accelerating this work alongside all the talent at Ebanx.”

Bellizia previously worked as Google’s vice president of marketing for Latin America, and before that she also worked with Microsoft, Apple and Facebook.