Santander snaps up major stake in UK FinTech Ebury

November 04, 2019 | SME Finance
Written by FinTech Alliance
Santander snaps up major stake in UK FinTech Ebury

The Spanish bank is looking to win more small business customers

In Brief

  • The investment is worth £350mn and will see Santander take a 50.1 per cent in the London-based start-up, 
  • Ebury specialises in foreign exchange, cash management and trade finance services for SMEs. 
  • The London-based FinTech was founded in 2009 and reported revenues of £43.7m in the 12 months to April 2018. 

What this means

Santander wants to build a global trade platform for businesses. However, unlike competitors Citibank, HSBC and Standard Chartered the Spanish lender sees a growth market in the underserved SME market. Ebury’s user-friendly system for bringing on board new customers will help reach that market.

Read more here

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