Banco Santander Majority Owner of Ebury

Ebury is a payments platform which is now 50.1% owned by Banco Santander; the bank paid $453 million; Ebury’s platform is targeted towards small and medium sized businesses, providing them with trade finance services; Banco Santander hopes to grow their global payments business as part of the deal; Juan Lobato and Salvador Garcia, co-founders of Ebury stated, “In just over 10 years, Ebury has grown from a small FinTech company to a business with over 1,000 employees. Now, thanks to the support of Santander, we will be able to expand the business even more internationally and enter new markets.” Ebury has operations in 17 countries and 140 currencies and has posted revenue growth by an average of 50% per year over the last three years; they hope to boost growth in Latin America and Asia markets. PYMNTS

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