Ebanx, a Brazil-based cross-border payments company serving global technology firms in emerging markets, has announced an expansion into Thailand, Indonesia, and Turkey, with plans to enter Malaysia and Vietnam in the following quarter.
The company has opened a regional headquarters in Singapore to serve as an operational hub for its Asian expansion, led by Chief Product Officer Eduardo de Abreu.
Ebanx provides local payment method access for global merchants, including Uber and Shein, operating in emerging markets, where low credit card penetration makes local payment infrastructure critical for conversion. The five new markets collectively represent a population of more than half a billion people with growing digital commerce adoption.
Geographic diversification and financial profile
The Southeast Asian expansion extends a geographic diversification strategy that has been underway since 2022. In 2025, 65% of Ebanx's gross profit came from markets outside Brazil, compared with 32% in 2021, with 20% derived from non-Latin American markets, according to company data. Ebanx is backed by private equity firms Advent International and FTV Capital, and its last capital raise in 2021 secured USD 430 million from Advent. Expansion this year will be funded from the company's existing cash reserves.
Ebanx reached unicorn status in 2019 and currently operates across Latin America, with additional presence in India, the Philippines, and South Africa following its post-2022 international expansion. The company plans to enter further markets in early 2027, with a focus on the Middle East and broader Asia. A potential initial public offering in New York is described by CEO Joao Del Valle as likely on a two-year horizon, subject to market conditions.
Del Valle said coverage is a crucial factor when global merchants select a payments partner, and that in most of the new target markets, credit card penetration is very low, making local payment method support essential for merchants.
