Advertisement
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
Airports play a much bigger role than just enabling travel -...
Why does the same hotel brand operate multiple properties in...
Brazil-based Ebanx has announced an expansion into Southeast Asia and adjacent markets, entering Thailand, Indonesia and Turkey while planning launches in Malaysia and Vietnam in the coming quarter. The move marks a strategic push beyond Latin America, where the firm has historically operated. Backed by Advent International and FTV Capital, Ebanx has seen rising international contribution, with 65% of gross profit generated outside Brazil in the past year. The expansion targets high-growth digital commerce markets with low credit card penetration, positioning the firm to support global merchants seeking localised payment solutions.
Ebanx has expanded its international operations into Southeast Asia and adjacent regions, entering Thailand, Indonesia and Turkey while outlining plans to launch in Malaysia and Vietnam in the coming quarter, according to details shared in the past week. Advertisement
The Brazil-based payments firm, which provides cross-border payment solutions to global technology companies, is strengthening its presence outside Latin America as part of a broader growth strategy targeting emerging markets. The expansion is aimed at enabling international merchants to access localised payment methods in regions with rapidly growing digital commerce ecosystems.
The company currently works with global platforms such as Uber and Shein, facilitating transactions in markets where traditional payment infrastructure, particularly credit card penetration, remains limited. Company executives indicated that local payment integration is critical for merchants operating across multiple geographies, particularly in markets with diverse consumer payment preferences.
Ebanx has reported a steady increase in international revenue contribution, with 65% of its gross profit generated outside Brazil in the past year, compared to 32% in 2021. Approximately 20% of this revenue now comes from markets beyond Latin America, reflecting diversification into Asia and Africa.
The new markets targeted in Southeast Asia collectively represent a population exceeding 500 million, with rising adoption of digital commerce. The company identified low credit card usage in these regions as a key opportunity, where alternative payment methods such as digital wallets and bank transfers are more prevalent.
To support its expansion, Ebanx has established a regional hub in Singapore, which will serve as a coordination centre for Asian operations. The office will be led by the company's chief product officer, who will oversee regional strategy and client engagement, although payment processing services will not be offered directly in Singapore.
The expansion is being funded through internal cash reserves, with no immediate plans for external capital raising. The company last raised USD 430 million in 2021 from Advent International, with participation from FTV Capital.
Founded in Curitiba in the early 2010s, Ebanx achieved unicorn status in 2019 and has since expanded into multiple emerging markets, including India, the Philippines and South Africa. The company continues to focus on enabling cross-border transactions for global merchants operating in high-growth regions.
Looking ahead, the firm plans to expand further into markets in Asia and the Middle East, with potential new entries expected in early 2027, subject to market conditions. It is also evaluating a potential initial public offering in the United States over the next two years, depending on capital market dynamics.
The expansion underscores increasing competition among payment service providers seeking to capture growth in emerging digital economies, where localised payment infrastructure remains a key enabler of cross-border commerce.
Source - Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
