Santander buys majority stake in UK fintech Ebury
November 4, 2019
Santander has bought a majority stake in UK-based Fintech company Ebury for £350m. The bank now holds 50.1 percent in Ebury, a trade and foreign exchange facilitator for small and medium-sized companies. The Angel CoFund first invested in Ebury in its seed round in 2012 and has invested £1.3m in total across four funding rounds. The firm retains a shareholding of Ebury.
Tim Mills, management director of the Angel CoFund has made the following comment:
“This news starts yet another exciting phase for Ebury, which has proved itself as one of the UK’s most successful fintech startups, providing clients with exceptional access to foreign exchange and trade finance solutions. The UK is world-renowned for its fast growth fintech ecosystem and we are proud to have been an early stage investor in one of the market leaders. The Ebury team has achieved a huge amount in terms of innovation, international expansion and revenue growth since we first invested in 2012, and have consequently delivered substantial realised value growth for investors. The story continues with this most recent, most significant backing from Santander, and I anticipate many more achievements will flow from this complementary partnership.”
You can read the full article on the Angel News website here