IBOS member Banco Santander invests £350 million in UK fintech Ebury, published in the Financial Times
IBOS member Banco Santander today announced a strategic investment in Ebury, the best-in-class trade and foreign exchange facilitator for small and medium-sized companies, for £350 million (approximately €400 million), to strengthen its Global Trade Services offer.
The investment, which fits Santander’s digital strategy of accelerating growth through new ventures, will strengthen its Global Trade Services offer and further consolidate Santander’s position as the bank of choice for SMEs trading or aspiring to trade internationally in its markets across Europe and the Americas, and in Asia later on.
Ebury, which operates in 19 countries and 140 currencies, has generated consistent average annual revenue growth of 40% in the last three years. UK-based Ebury operates on a unique worldwide distribution platform underpinned by a data driven business model and offers best-in-class customer experience and product capabilities.
The partnership will enable Ebury to improve its value proposition, supported by a leading financial institution. Santander serves more than four million SME clients worldwide, of which more than 200,000 do international business.