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News

Ebury acquires Prime Financial Markets

Tuesday 12 December 2023 15:01 CET | News

Ebury, a UK-based global financial technology firm, has announced the acquisition of financial services firm Prime Financial Markets based in South Africa.   

 

The acquisition marks Ebury’s entrance into Africa for the first time, establishing a local office in South Africa. As per the announcement, demand for Ebury’s services has driven international growth with over 1,700 employees operating from 38 offices in 23 countries with annual transaction volumes of over USD 27 billion. 

Ebury, a UK-based global financial technology firm, has announced the acquisition of financial services firm Prime Financial Markets based in South Africa.

 

Prime Financial Markets is a registered Financial Services Provider offering financial market advice and intermediary services in the treasury and financial market space with experience supporting customers with their financial market exposure. 

As stated in the official press release, Prime Financial Markets’ capabilities include treasury evaluation services, hedge execution services, systems offering, liquidity and covenant management as well as treasury policy and risk integration advice.  

Ebury is an FX and payments specialist, offering financial solutions to help SMEs and midcaps trade internationally. It specialises in international payments and collections, offers foreign exchange in over 130 currencies for both major and emerging markets, as well as cash management strategy, trade finance, and foreign exchange risk management. 

Officials from Ebury emphasised that Prime Financial Markets’ complimentary suite of services is a natural fit with its global capabilities. This transaction enables Ebury to establish a new geographic presence at the centre of Africa’s financial services market. 

About Ebury 

Ebury is a global financial services firm that aims to empower businesses of all sizes to trade and grow internationally by removing global barriers. It provides unified solutions such as international payments and collections, FX in more than 130 currencies, cash management, business lending, risk management, and API integrations.  

Ebury’s product strategy enables it to be a more Embedded Financial services partner by providing comprehensive solutions for cash management, payments, lending, and FX risk management. These product capabilities are packaged through a global, reliable, easy-to-use, and secure platform underpinned by scalable infrastructure, treasury management capabilities, and regulatory compliance expertise. 

In October 2023, Ebury announced that the Central Bank of Brazil approved its acquisition of Bexs Group. Following this approval, both companies would work to advance the integration procedures and efforts to accelerate the launch of new products in the Brazilian market. 

The acquisition was set to broaden Ebury’s offering of international money transfer solutions for SMEs and amplify its digital offerings to online businesses in Brazil, particularly marketplaces, investment applications, and software companies. Ebury will enable large-scale payments from abroad to Brazil by leveraging Bexs Group’s technology. The company aims to onboard 3,000 clients in the country by 2025. 

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Keywords: acquisition, expansion, banking, financial institutions, cross-border payments
Categories: Banking & Fintech
Companies: Ebury
Countries: South Africa
This article is part of category

Banking & Fintech

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Ebury

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