Banco Santander completes purchase of 50.1% stake in Ebury
The deal, which saw Santander invest approximately £350 million, forms part of the bank’s digital strategy, providing SMEs with the necessary tools for their international expansion through global trade finance services.
Banco Santander today announces the completion of its purchase of a c.50.1% stake in international payment, FX and international cash management platforms for SMEs Ebury. All regulatory approvals from the required authorities have been secured for the transaction.
As FinanceFeeds readers may recall, this deal was announced in November 2019 and is part of the bank’s digital strategy, providing SMEs with the necessary tools for their international expansion through global trade finance services.
Ebury already has operations in 17 countries and 140 currencies, and has increased its revenues by an average of 50% per year over the past three years. With the support of an international group such as Santander, the company will be able to expand its business to other markets in Latin America and Asia. Ebury maintains its headquarters in the United Kingdom, from where it operates a unique global distribution platform supported by a data-based business model that offers high-quality products and customer experience.
Santander invested approximately £350 million (around EUR 400 million) in the deal. Of this amount, £70 million was used to bolster the company’s resources to underpin its international expansion. The agreement provides Ebury with access to Santander’s international network.
The bank already supports more than four million SMEs worldwide, of which over 200,000 operate internationally. The bank can also offer support to Ebury’s existing customer base, which includes SMEs and companies, and agreements with financial and other industry partners.
