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Ebanx informed that it is promoting a review of its operation, reinforcing the focus on its core business, international payments. According to fintech, structures have been reformulated, some projects are being discontinued and there has been a reduction of around 20% in the group’s workforce of more than 1,700 employees.
“The decision was made based on the current scenario of the technology market as a whole, impacted in a profound and fast way by the macroeconomic environment. Ebanx remains committed to its sustainability and growth, following the mission of generating access between consumers and global companies “, says the company.
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According to the company, employees impacted by this restructuring will receive, along with their termination, a differentiated package of benefits that includes additional values and extension of the health plan, in addition to the work computer.
Founded in Brazil in 2012, Ebanx processes international payments in 15 Latin American countries. Until the end of last year, fintech had an aggressive expansion plan. After investing US$299 million to buy Remessa Online, it had other acquisitions in the pipeline and was opening offices in countries in the region.
Ebanx received a US$430 million contribution led by Advent International in June last year. The company even filed a secret US IPO request a few months later, which could value it at nearly $10 billion. However, with the decline of companies with a strong technological bias in recent months, the stock offering seems increasingly distant.
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