(Bloomberg) -- Ebanx SA, a Brazilian financial technology firm backed by Advent International, has filed confidentially for a U.S. initial public offering, according to people familiar with the matter.
The company could go public as soon as January and seek a valuation of more than $10 billion, said one of the people, who asked to not be identified because the matter isn't public.
A representative for Ebanx declined to comment.
Ebanx is considering an IPO as the public markets welcome new fintech firms, many of which have strong growth prospects because of companies and consumers relying more on online financial services. The parent company of Warren Buffett-backed Nubank, which is also based in Brazil, said Wednesday that it had filed confidentially for an IPO.
Founded in 2012, Ebanx helps firms like Spotify Technology SA, Uber Technologies Inc. and Amazon.com Inc. bill clients for their products in Latin America. The firm has been readying an IPO as it looks to expand its payment-processing solutions throughout the region, Chief Executive Officer and co-founder Joao Del Valle told Bloomberg News in May.
Advent, a Boston-based private equity firm, invested $430 million in Ebanx this year, according to a statement in June. Other backers include FTV Capital.
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