Ebanx, the Curitiba-founded cross-border payments firm, said it is expanding its global footprint with a clear emphasis on Southeast Asia as it seeks to strengthen operations beyond Latin America.
The company announced immediate launches in Thailand, Indonesia and Turkey, and said it intends to enter Malaysia and Vietnam within the next quarter. Ebanx provides payment rails and local payment methods to global technology platforms, counting companies such as Uber and Shein among its clients.
Joao Del Valle, Ebanx's chief executive and co-founder, stressed the importance of broad geographic coverage for multinational merchants. "When a global merchant taps its global payment partner, coverage is a crucial factor," he said in an interview. The firm highlighted the growth of digital commerce among the combined population of the new markets and noted relatively low credit card penetration in many of those countries. "In most of these countries, credit card penetration is very low," Del Valle added. "So the client, our global merchant, needs help."
Ebanx has been accelerating its international push since 2022, extending operations into parts of Asia and Africa, including India, the Philippines and South Africa. The company, which achieved 'unicorn' status in 2019, operates across Latin America and has been ramping up activity outside Brazil with backing from private equity firms Advent International and FTV Capital.
The shift in the company's revenue mix is pronounced. In 2025, 65% of Ebanx's gross profit came from markets outside Brazil, up from 32% in 2021. Twenty percent of the firm's gross profit in 2025 was generated in non-Latin American markets.
Operational leadership for the Asian expansion will be handled by Chief Product Officer Eduardo de Abreu, who will run Asian operations from a new Singapore headquarters opened last month. The Singapore office is intended as a regional hub to engage with clients; the company noted it does not currently offer payment services in Singapore itself.
Funding for the current year's expansion will come from the firm's existing cash reserves, Del Valle said. Ebanx's most recent capital increase came in 2021, when Advent invested $430 million. The company did not disclose its valuation at the time and continues not to disclose the total volume of payments it processes.
Looking ahead, Ebanx expects to enter additional markets in early 2027, with a particular focus on more countries in the Middle East and Asia, Del Valle said. The company is also considering a public listing in the United States; a planned initial public offering in New York is likely on a two-year horizon, contingent on improved market conditions.
Key context and implications
- Ebanx's immediate market additions are Thailand, Indonesia and Turkey, with Malaysia and Vietnam planned for the next quarter.
- The firm's gross profit composition has shifted markedly toward international markets: 65% from non-Brazil markets in 2025 versus 32% in 2021, and 20% from non-Latin American markets in 2025.
- Operational leadership for Asia will be centralized in Singapore under Chief Product Officer Eduardo de Abreu, though payment services are not offered in Singapore itself.
Financial and strategic notes
- Expansion investments for the year will be financed from existing cash on hand.
- Last major private capital raise was in 2021, when Advent provided $430 million; valuation at that time was not disclosed.
- An IPO in New York is targeted on a roughly two-year timeline, dependent on market conditions.