Spanish bank Santander acquires majority stake in UK fintech Ebury for €406 million | EU-Startups
Summary
“Small and medium-sized businesses are a major engine of growth around the world, creating new jobs and contributing up to 60% of total employment and up to 40% of national GDP in emerging economies,” said Ana Botín, Group Executive Chairman of Banco Santander. By partnering with Ebury, Santander will deliver faster and more efficient products and services for SMEs, previously only accessible to larger corporates,” added Ebury’s founders Juan Lobato and Salvador García. Ebury will continue operating as an independent unit, supported by Santander following its extensive experience in leveraging its Group scale to grow and develop the companies it has invested in, such as Getnet, the bank’s Brazilian subsidiary. Getnet, already a success in Brazil, is helping build the Global Merchant Services platform, initially starting in Mexico before expanding across Latin America and Europe. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period.
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