Santander backs Ebury’s next phase with fresh funding

Banco Santander has reinforced its commitment to Ebury after taking part in a funding round of about £550mn for the cross-border payments and trade finance fintech.

Santander backs Ebury with fresh funding

The transaction brings in Centerbridge Partners as a new investor, alongside existing backers Santander, Vitruvian Partners and 83North, and gives Ebury additional firepower to expand its product suite and international footprint.

Santander will invest £50mn in the round and remain Ebury’s majority shareholder, although its holding will fall from 66 per cent to 55 per cent.

The Spanish banking group said the deal underlines Ebury’s strategic importance as its platform for SME-focused international payments, while also supporting Santander’s broader emphasis on capital discipline and value creation.

A fintech built around SME cross-border needs

Ebury has become one of Santander’s most significant fintech bets since the bank first invested in the company in 2020. The business now serves more than 27,000 companies globally, operates across 30 regulated markets and supports payments in more than 140 currencies across 160 countries.

Its platform is aimed primarily at small and medium-sized enterprises that need to move money internationally, manage foreign exchange exposure, receive cross-border payments and integrate payment flows into their financial systems.

This remains a large and competitive market, as SMEs continue to demand faster, more transparent and more flexible alternatives to traditional correspondent banking services.

Ebury’s revenue has grown by more than 30 per cent a year since Santander became an investor, strengthening the argument that bank-fintech partnerships can work when both sides bring complementary assets.

Santander offers scale, balance sheet strength and global distribution. Ebury contributes technology, specialist payments expertise and a more agile operating model.

IPO delayed, expansion accelerated

The new investment follows the postponement of Ebury’s previously expected public listing. Plans for an IPO in 2025 were disrupted by market volatility linked to President Donald Trump’s global tariff regime, pushing the company towards private capital instead.

Rather than signalling a retreat, the funding round suggests Ebury is preparing for a more ambitious growth phase before returning to public markets. The proceeds will be used for product development, geographic expansion and investment in artificial intelligence.

Ebury expects AI to improve payment processing, sharpen foreign exchange capabilities and enhance customer experience.

Juan Lobato, Ebury’s chief executive, described the investment as arriving at a pivotal moment, citing the evolution of digital money infrastructure and agentic payment workflows as potential tailwinds for the business.

Strategic value for Santander

For Santander, the transaction also has financial and accounting implications. Once completed, the bank will account for its 55 per cent stake using the equity method, deconsolidating Ebury’s revenues and costs from group reporting.

The transaction is expected to add about four basis points to Santander’s CET1 capital ratio, subject to regulatory approval.

The deal also keeps Ebury within Santander’s Payments Solutions business, a division targeting annual revenue growth of more than 15 per cent between 2026 and 2028.

For a bank seeking growth beyond traditional lending, Ebury remains a useful bridge between global transaction banking and the faster-moving world of fintech.