Ebanx, the Brazilian cross-border payments specialist founded in Curitiba in the early 2010s, announced an acceleration of its international expansion with a particular focus on Southeast Asia. The company said it has launched operations in Thailand, Indonesia and Turkey with additional plans to enter Malaysia and Vietnam in the next quarter.
Backed by private equity firms Advent International and FTV Capital, Ebanx has been increasing its activity outside Brazil. The firm reported that in 2025, 65% of its gross profit came from outside Brazil, up from 32% in 2021, and that 20% of gross profit now originates from non-Latin American markets.
Joao Del Valle, Ebanx's chief executive and co-founder, said global coverage is a key consideration for multinational merchants when they select a payments partner. In an interview, he emphasized that the new markets share rising digital commerce among a combined population of more than half a billion people and that low credit card penetration in many of those countries creates a need for local payment options that Ebanx provides.
"When a global merchant taps its global payment partner, coverage is a crucial factor," Del Valle said. "In most of these countries, credit card penetration is very low. So the client, our global merchant, needs help."
Since 2022, Ebanx has extended its footprint beyond Latin America into parts of Asia and Africa, including India, the Philippines and South Africa. The company aims to debut in additional markets in early 2027, with an emphasis on further expansion across the Middle East and Asia, Del Valle said.
Operational leadership for Asia will be led by Chief Product Officer Eduardo de Abreu from a new Singapore headquarters opened last month. The Singapore office is intended as a hub for client engagement, even though Ebanx does not currently offer payment services in Singapore itself.
Del Valle said investments for this year’s expansion will be financed using the company’s existing cash on hand. Ebanx does not disclose the total volume of payments it processes.
The company last raised capital in 2021, when a funding round brought in $430 million from Advent. Ebanx did not disclose its valuation at that time. Management indicated that a planned initial public offering in New York is likely on a two-year horizon, contingent on an improvement in market conditions.
Contextual notes
- Ebanx achieved unicorn status in 2019, defined as a valuation above $1 billion.
- The company provides local payment methods to global tech merchants including Uber and Shein in emerging markets.