FinTech firm Ebanx recently delayed its U.S. initial public offering (IPO) because of market volatility, Bloomberg reported Friday (Feb. 4).
The company, backed by Advent International, recently said it might seek a value over $10 billion. Since it was formed a decade ago, Ebanx’s services have helped companies like Spotify, Uber and Amazon bill clients for their products and services in Latin America.
In a 2021 interview, CEO João Del Valle told Bloomberg that the company was preparing an IPO and readying to expand its payment processing services throughout the region. However, the company said it’s not planning to go public in the first half of 2022, as had been previously reported.
“Ebanx remains attentive to the best market moment for an eventual IPO,” the company said in a statement, Bloomberg reported.
Ebanx added that since the processed volume more than doubled last year, it will keep on expanding its operations. Equity markets were down at the beginning of the year. The S&P 500 fell sharply by 5.3% in January, while the Nasdaq fell 9%.
Ebanx also recently added former Google executive Paula Bellizia as its new president of global payments, where she will lead the company’s global sales, marketing, operation and expansion teams. Her focus will be on expanding and consolidating the company’s brand.
See also: Ex-Google Exec Paula Bellizia Joins FinTech Ebanx
“Ebanx has a consistent trajectory, launching products and services that open many doors: from the business to consumer market, from consumers to the best brands, and from a digital economy that creates more access and fosters ecosystems,” Bellizia said. “I am thrilled with the challenge of continuing and accelerating this work alongside all the talents at Ebanx.”
Bellizia previously worked as Google vice president of marketing for Latin America, and prior to that, she also worked with Microsoft, Apple and Facebook.
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