Santander Finalises Major Ebury Investment
(28 April 2020 – Europe) Banco Santander has announced the completion of its purchase of a 50.1 percent stake in Ebury, a leading international SME payments, FX and cash management platform. The transaction was initially announced in Q4 2019 and forms part of the group’s ambitious digital strategy, providing SMEs with the necessary tools for their international expansion through global trade finance services.
The agreement provides Ebury with access to Santander's international network. Santander invested GBP£350 million in the deal with a major portion used to bolster the company's resources to underpin its international expansion. The bank already supports more than four million SMEs worldwide, of which over 200,000 operate internationally. Ebury has operations in 17 countries and 140 currencies serving over 43,000 active corporates and has increased its revenues by an average of 50 percent year-on-year since 2017.
Ebury now plans to expand its FX business to other markets in Latin America and Asia. Ebury will remain headquartered in the United Kingdom (UK), from where it operates a unique global distribution platform supported by a data-based business model that offers high-quality products and customer experience.
“The investment in Ebury is a significant strategic milestone for bank, allowing us to boost our capabilities in an exciting market with high growth potential. This new acquisition will provide us with the capabilities to further increase the Global Trade Services business with a new world-class platform with which we expect a significant return on investment in the coming years” stated Chairman of Santander Brazil and Chairman of Ebury, Sergio Rial.
"In just over ten years, Ebury has grown from a small fintech company to a business with over 1,000 employees. Now, thanks to the support of Santander, we will be able to expand the business even more internationally and enter new markets" commented Ebury co-founders Juan Lobato and Salvador Garcia.
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