Advent Backed Fintech Ebanx Delays U.S IPO on recent market Turbulence
- ByStartupStory | February 5, 2022
(Bloomberg) — Ebanx SA, a Brazilian economic-technology firm subsidized by Advent International, not on time its U.S. Preliminary public supply due to latest market volatility.
The company, which sooner or later might also be trying to find a valuation exceeding $10 billion, isn’t planning to head public within the first 1/2 of this year as formerly expected, according to humans acquainted with the matter who asked now not to be identified because the discussions are personal.
“Ebanx remains conscious of the satisfactory marketplace moment for an eventual IPO,” the business enterprise said in an assertion, adding that its processed extent more than doubled ultimate yr and that it’ll maintain to extend operations.
Equity markets fell sharply to begin the yr, with the S & P 500 sliding five.Three% in January and the tech-heavy Nasdaq Composite Index tumbling 9%.
Ebanx, founded a decade ago, helps businesses including Spotify Technology SA, Uber Technologies Inc. And Amazon.Com Inc. Bill customers for their products and services in Latin America. The firm has been preparing for an IPO as it seeks to extend its price-processing offerings at some stage in the region, Chief Executive Officer Joao Del Valle said in an interview final 12 months
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