London based fintech company has raised £350m from Banco Santander, as Spain’s biggest bank seeks to win more business from SMEs that trade internationally. Santander acquired a 50.1% stake in Ebury, which operates in 19 countries with the new funding used to support Ebury’s expansion into Latin America and Asia.
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Santander buys majority stake in UK fintech Ebury for £350m
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“Combining a big bank with nimble fintech means we can offer our clients the best of both worlds: they can benefit from our technology and high-quality service safe in the knowledge that they are counterparty to one of the world’s most important financial institutions,” Messrs Lobato and García said.
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