Brazil’s Ebanx to postpone funding due to volatility

Ebanx, a Brazilian payments startup, is deferring possible capital raises until the second half of the year, owing to the impact of unpredictable markets on valuations and investor sentiment, according to founder and CEO Joao Del Valle.

Ebanx said earlier this year that it will postpone its planned initial public offering. Del Valle said in an interview with Reuters that Ebanx has no plans for a funding round in the first half of the year.

Del Valle stated that Ebanx is continuing investing the $430 million raised in June with Advent International, a private equity firm. The fintech now employs 1,700 people across ten countries, with aspirations to expand in Mexico, China, the United States, and Europe.

Paula Bellizia, who was recently appointed president of global payments, will lead the growth in the coming months. Bellizia has worked for Google and Microsoft in Brazil.