UK-based FinTech Ebury is reportedly in talks with a number of banks to support a potential 2025 listing on the London Stock Exchange (LSE).
In brief:
- Bloomberg reports that the cross-border payments platform has held discussions with the banks about initiating an IPO next year at a valuation of up to £2bn, citing sources familiar with the matter.
- Ebury operates as part of the PagoNxt payments platform of Spanish banking giant Santander, which acquired a 50.1% stake in the fintech in November 2019 to the tune of £350mn. The bank’s stake later rose to 54%.
- The London-based FinTech specialises in facilitating international payments and collections for businesses, while also offering foreign exchange, trade finance and cash management services.
What does this mean?
Juan Lobato, founder and CEO of Ebury, stated the FinTech is “in a stronger position than ever before”. This position, Lobato claims, is powering its “big ambitions”, which include “exploring an IPO of the business on the back of our strong financial and commercial performance to maximise Ebury’s potential”.
