A Brazilian financial technology company that handles payments for major global brands is making a significant push into Southeast Asian markets as part of its worldwide expansion strategy.
Ebanx, which processes cross-border transactions for companies including Uber and Shein in developing markets, announced immediate operations launching in Thailand, Indonesia and Turkey. The firm also revealed intentions to begin services in Malaysia and Vietnam during the upcoming quarter.
The payments company has been steadily growing its presence beyond Brazil with backing from private equity investors Advent International and FTV Capital. International operations now generate 65% of the company’s gross profits in 2025, a dramatic increase from just 32% in 2021. Non-Latin American markets account for 20% of total profits.
“When a global merchant taps its global payment partner, coverage is a crucial factor,” said Joao Del Valle, Ebanx’s chief executive and co-founder, during a recent interview.
The targeted regions represent a combined population exceeding half a billion people who have demonstrated growing adoption of digital commerce platforms, according to company analysis.
“In most of these countries, credit card penetration is very low,” Del Valle explained. “So the client, our global merchant, needs help.”
Established in Curitiba during the early 2010s, Ebanx achieved ‘unicorn’ designation in 2019 when its valuation surpassed $1 billion. The company currently serves markets throughout Latin America and has been expanding into Asia and Africa since 2022, including operations in India, the Philippines and South Africa.
Del Valle indicated the firm aims to launch in additional territories by early 2027, particularly targeting Middle Eastern and Asian markets. The company does not publicly release figures for its total payment processing volume.
Eduardo de Abreu, serving as Chief Product Officer, will oversee Asian operations from a newly established Singapore headquarters that opened last month. This facility will function as a regional hub for client relationships, though Ebanx does not provide payment services within Singapore itself.
The current expansion will be funded through existing company reserves, the CEO confirmed.
Ebanx’s most recent funding round in 2021 brought in $430 million from Advent, though the company did not reveal its valuation at that time.
A potential initial public offering on the New York Stock Exchange remains under consideration within a two-year timeframe, contingent on favorable market conditions, Del Valle noted.
