Ebury expands to Baltic States, backed by Santander’s £70 million

Ebury is a fintech with the status of a payment institution, currently having 24 offices on 5 continents and employing approximately 1,100 specialists, including a team of 50 in Warsaw.

“We have decided to enter the Baltic countries directly, because despite the relatively small size of their economies, they are transfer markets between Russia and the European Union and are characterized by very high import activity,” said Jakub Lancucki, managing director for sales of Ebury Polska, quoted in the press release.

As he emphasized, all three Baltic countries are equally important for Ebury in terms of business and fintech is already developing rapidly on them.

“For example, Ebury’s clients in the Baltic countries have sent payment orders almost 120% higher year on year in the last 12 months, and their number has increased by almost 400%. Currently, we see great potential on the Latvian market, due to the size of the market and the low quality of financial services provided to local entrepreneurs, ”added Lancucki.

As indicated, in the struggle to support importers and exporters from the Baltic countries, Ebury will help, among others the fastest settlements on the market directly in the ruble and a dedicated team for servicing eastern markets. Polish entrepreneurs will also benefit from Ebury’s expansion.

The first clients from Lithuania and Latvia started to report to the Warsaw office two years ago. Active entry into these markets is therefore a natural step in expanding Ebury’s reach in eastern Europe, it was noted.

The amount of £ 70 million with which Banco Santander added to Ebury’s equity in 2020 allowed the company to accelerate its development and enter new markets – primarily Latin America (a new branch in São Paulo, Brazil, the first in that continent) and Asia (a new branch in Singapore).

Ebury is a fintech with the status of a payment institution, currently having 24 offices on 5 continents and employing approximately 1,100 specialists, including a team of 50 in Warsaw. The company offers one of the largest global trading platforms serving over 49,000 companies, mainly exporters and importers from the SME sector. In Central and Eastern Europe, the number one market for Ebury – the largest in the region and generating the highest business results – is Poland. Another three offices in this part of the continent are located in Romania, Bulgaria and the Czech Republic.

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