04 November 2019

Santander snaps up major stake in UK FinTech Ebury

Written By FinTech Alliance in SME Finance

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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