Ebury partners Santander to help German SMEs trade globally

Ebury and Santander Germany have teamed up with the aim to simplify international trade for Germany’s small and medium-sized enterprises (SMEs).

Santander is one of the top five private banks in Germany

The partnership plans to offer an international finance solution that streamlines cross-border trade and shortens the onboarding process for clients.

Ebury Germany country manager Nils Hennemann says: “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.”

The move comes after Santander’s €400 million investment in Ebury in April 2020 as part of the bank’s digital strategy, originally announced back in November 2019.

As a result of that investment, Santander owns 50.1% of Ebury via PagoNxt, a tech-focused global payments fintech.

Santander Germany’s head of business and corporate banking Peter Stindt claims the partnership between the multinational and the fintech will create a “wholesale banking platform to make international trade more straightforward” for SMEs in Germany.

Founded in London in 2009 by Spanish entrepreneurs Juan Lobato and Salvador García, Ebury offers international payments and collections and foreign exchange services for both major and emerging markets, as well as cash management strategies, trade finance, and foreign exchange risk management.

Source: https://www.fintechfutures.com/2021/11/ebury-partners-santander-to-help-german-smes-trade-globally/