Banco Santander is increasing its ownership of cross-border payments fintech Ebury after joining a £550 million capital raise designed to accelerate the company’s global expansion and product development. The move strengthens Santander’s control over a platform that has become central to its international SME payments strategy.
Santander increases stake as Ebury raises growth capital
Santander confirmed it will grow its shareholding in Ebury to 55 percent, following its participation in the fintech’s latest £550 million fundraising round.
The bank first invested in Ebury in 2020, acquiring a 50.1 percent majority stake for £350 million. The new round further deepens Santander’s strategic relationship with the London-based cross-border payments provider.
Santander will invest £50 million in the latest raise, while the remaining capital will be provided by investment firms Centerbridge Partners, which is leading the round, alongside Vitruvian Partners and 83North.
The transaction will be completed through two separate investments, both subject to regulatory approvals.
Strategic role in SME cross-border payments
Ebury has become a core component of Santander’s strategy to expand services for small and medium-sized enterprises operating internationally.
The platform provides businesses with cross-border payment services, foreign exchange capabilities and international collections, helping SMEs manage global transactions more efficiently.
Operating in 30 regulated markets, Ebury supports more than 27,000 businesses worldwide and enables payments in over 140 currencies across 160 countries.
Since Santander’s original investment in 2020, the fintech has recorded annual revenue growth of more than 30 percent, reflecting rising demand from companies engaged in global trade.
Investment to support AI, product development and expansion
The new funding will be used to accelerate Ebury’s growth across several areas, including product innovation and geographic expansion.
A key focus will be the integration of AI-driven capabilities to improve payment processing, optimise foreign exchange services and enhance customer experience.
Santander also expects the investment to have a positive impact on its regulatory capital position, with the transaction projected to increase the bank’s Common Equity Tier 1 (CET1) ratio by approximately four basis points.
Strengthening Santander’s fintech ecosystem
Ebury plays an increasingly important role in Santander’s broader fintech ecosystem, serving as both a specialised payments platform for SME clients and a source of product innovation.
By expanding its ownership stake, Santander is positioning itself to scale Ebury’s technology and infrastructure globally while maintaining strategic oversight of the platform’s development.
What this means for the industry
- Banks are increasingly acquiring or controlling fintech platforms instead of simply partnering with them.
- Cross-border SME payments remain one of the fastest-growing segments in fintech.
- AI is becoming a key differentiator in FX optimisation, payment routing and treasury services.
- Strategic bank-fintech ownership models are replacing earlier venture-style minority investments.
