Ebury and Santander join forces in Germany to increase support for SMEs
By Joy Dumasia
Ebury and Santander Germany are delighted to announce a new partnership to offer businesses in Germany a complete international finance solution to simplify international trade. By joining forces in Germany, clients will benefit from their combined services, allowing them to trade with anyone from anywhere.
The partnership will integrate the advantages of one of the world’s largest and most successful banks with the agility and specialist technology of a FinTech. It follows Banco Santander’s €400m investment in Ebury in 2020, part of the bank’s digital strategy for providing SMEs with the necessary tools for their international expansion through global trade finance services. Santander, via PagoNxt, a technology-focused global payment FinTech, owns 50.1% of Ebury.
Ebury, a leading FinTech, simplifies cross-border trade by offering international transactions, FX hedging and collection account solutions for businesses. In contrast, Banco Santander, a leading retail and commercial bank in Europe and the Americas, offers a range of lending, transactional services and trade finance solutions to SMEs, among other things.
Nils Hennemann, Country Manager of Ebury Germany, commented: “We are delighted to be partnering with Santander to improve services for businesses in Germany who want to trade internationally. Combining forces will allow clients to benefit from Ebury’s agility as a fintech and its specialist international transaction services alongside Santander’s significant lending capabilities. Together, we expect this to be the start of a deep and enduring partnership, and we are already looking at additional ways of supporting SMEs in Germany and delivering a superior customer experience via this partnership.”
IBS Intelligence reported that Ebury and TopSource Worldwide are delighted to announce a new partnership that will allow clients to accelerate their headcount growth internationally without the normal payroll and payment challenges.
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