Santander consolidates its position in Ebury, the British fintech specialized in international payments and currency exchange, after the European Commission has unconditionally authorized its joint control with the American fund Centerbridge. The operation reinforces one of the bank’s bets on the payments business for companies and keeps Santander as the majority shareholder.
The authorization from Brussels, approved on August 18, concludes that the operation does not pose competition problems in the European market due to the limited market position derived from the transaction.
Santander maintains 55% of Ebury
The operation is the result of the funding rounds announced in April. Santander invested 57 million euros and maintains a 55% stake in Ebury, thus continuing to be its main shareholder. Centerbridge joins as a new reference partner alongside other investors.
Ebury has raised nearly 634 million euros in these rounds, funds aimed at accelerating its growth, developing new products, and expanding its international presence. The company also plans to strengthen its artificial intelligence capabilities applied to payment processing and currency solutions.
A fintech that already works with more than 27,000 companies
Ebury currently operates in 30 regulated markets and serves more than 27,000 companies worldwide. Its platform allows managing international payments, operations in more than 140 currencies, and the risk associated with exchange rates.
The growth of the fintech has been one of the reasons that have led Santander to maintain its bet on the company. Since the bank’s entry into its capital in 2020, Ebury has recorded revenue growth of over 30% annually, according to data provided by Santander.
What does Santander gain with Ebury?
The main strategic advantage for Santander lies in strengthening its business of international payments for small and medium-sized enterprises. Ebury allows the group to offer companies operating in different countries services for collections, payments, currencies, and management of exchange rate risk.
The fintech is part of Payments Solutions, Santander’s global payments business, which aims to grow at a rate exceeding 15% annually between 2026 and 2028 and achieve an Ebitda margin close to 45% by 2028.
Furthermore, the operation allows the bank to maintain majority control of a specialized technological platform while incorporating Centerbridge as a partner with financial capacity and investment experience to drive its expansion.
The approval from Brussels removes the main regulatory obstacle
The European Commission has authorized the operation without imposing conditions, considering that the joint acquisition does not create competition problems in the internal market. The decision allows progress in an operation that was already subject to the corresponding regulatory authorizations.
The authorization does not, by itself, imply a specific stock market impact for Banco Santander. Its relevance is mainly in the strategic and business realm, as it allows the bank to consolidate its majority position in a fintech with international presence and a wide portfolio of business clients.
With Ebury, Santander thus maintains a growth avenue in an expanding market and reinforces its strategy of combining its banking scale with specialized technological platforms in international payments.