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Brazil, Financial Services
Ebanx is allowing Brazilians to use domestic payments for transactions with merchants anywhere in the world. The company functions by transferring funds between its two subsidiaries in Brazil and Europe: Ebanx Brazil accepts Reais and converts them to US$, and then transfer the US$ to Ebanx Europe, which pays the merchant.
Ebanx’s three entrepreneurs, Alphonse Voigt, Wagner Ruiz, and João Del Valle, met at Astropay, a company founded by Alphonse in 2009 to provide prepaid solutions for online poker giant Pokerstars. Alphonse recruited the other founders because of their diverse expertise. Taking with him the lessons he learned at Astropay and his most ambitious employees, Alphonse left to start in a new industry with huge growth potential. With the entrepreneurs’ extensive connections, Ebanx quickly secured merchants, and when the company launched in 2012, it became profitable almost immediately.
By accepting domestic payments, Ebanx’s online platform reduces commerce barriers between international merchants and Brazilian consumers. The value proposition is clear: for merchants, Ebanx opens up billions in potential revenus; for end-users, Ebanx accepts all national payment methods such as boletos, bank transfers, and national credit cards. The company’s complementary management team has extensive industry experience that has positioned Ebanx as the first mover in a nascent field.
The company has created a streamlined process that could revolutionize ecommerce in Brazil, and the entrepreneurs have a complementary skill-set that has already proven successful in online payment solutions.
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