Ebury and kompasbank facilitate international trade for Danish SMEs

By Gloria Methri

Ebury, a global financial services provider and European FinTech, is partnering with Danish neobank kompasbank. The digital bank helps SMEs release their full potential through easy and fast access to credit and business banking solutions.

The new partnership facilitates international trade between Danish SMEs and their foreign customers and suppliers. Ebury is the platform provider and enables transactions executed by customers, while kompasbank handles onboarding, FX advisory and support.

The partnership is the first of its kind in Scandinavia and will benefit Danish SMEs that want a full-fledged, digital, self-service platform for FX and international payments. The platform is modern, fast, and with very competitive currency prices – reducing the risk of businesses missing out on a deal because things take too long time.

kompasbank provides loans for fixed and current assets, working capital, property and minor acquisition financing. It has made a significant impact in Denmark with a dedicated focus on serving SMEs. The neobank’s tailored services matching the unique needs of SMEs have resonated well with this niche.

“We are proud of this partnership with kompasbank because together we can help more small and medium-sized businesses achieve their international growth ambitions,” said Duco Royaards, Head of Partnerships at Ebury. “This means they get access to our easy-to-use trading platform, competitive rates, and the possibility to pay, collect and convert in almost every currency in the world. We combine our expertise with new technology to deliver high-impact and diversified solutions.”

Michael Hurup Andersen, kompasbank’s founder and CEO, said, “Our ambition is to become a key growth engine for SMEs and help them reach their full potential by providing superior products and services above and beyond traditional banking. We like to push the boundaries of what our customers expect from financial services, and we are constantly expanding our product portfolio to become a full-service bank. The new partnership with Ebury gives us an innovative edge in FX and international payments. It provides our customers with new solutions faster than if we had to develop everything ourselves.”