Santander has put a total of $450m into Ebury in a primary and secondary transaction, acquiring a 50.1% stake in the business but maintaining its independence going forward.
UK-based corporate banking services provider Ebury yesterday picked up £350m ($450m) in funding from financial services firm Santander, consisting of primary and secondary equity.
Santander supplied $90m in primary equity. Unnamed, existing investors also contributed capital, as did Ebury’s co-founders and management, but it is not clear how much money they invested and if it is included in the $450m total figure.
The deal gives Santander a 50.1% majority stake, but Ebury will continue to operate independently.
Founded in 2009,…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
