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Santander completes its investment in Ebury

Thursday 30 April 2020 14:52 CET | News

Banco Santander has announced the completion of its purchase of a c.50.1% stake in Ebury after obtaining all regulatory approvals from the required authorities.

This transaction was announced in November 2019 and is part of the bank’s digital strategy. The move aims to provide SMEs with tools for their international expansion through global trade finance services.

Ebury is a payment, FX, and international cash management platform for SMEs. The company already has operations in 17 countries and 140 currencies, according to the official press release. Ebury maintains its headquarters in the UK, from where it operates a global distribution platform supported by a data-based business model. 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.

Santander invested GBP 350 million (around EUR 400 million) in the deal. Of this amount, GBP 70 million was used to support the company's resources to underpin its international expansion. The agreement provides Ebury with access to Santander's international network.

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Keywords: Ebury, Santander, investment, SME, banking, trade finance, platform, global trade, payments
Categories: Banking & Fintech | Payments General
Countries: Spain
This article is part of category

Banking & Fintech