“Can Santander's Ebury become the default global multi-currency business account and cross-border payments platform for SMEs — and IPO on the LSE as an independent fintech?”
Founded 2009 as an SME-focused FX and cross-border payments provider in London. Sold majority to Santander in 2019, becoming the core of Santander's PagoNxt platform while operating independently. Expanded aggressively into LatAm through the 2023 Bexs acquisition (which brought a Brazilian FX banking licence, hence the 'Ebury Bank' brand there), and is now positioning as a full multi-currency business account, lending, and embedded-finance platform ahead of a potential 2025 LSE listing.
Ebury Bank discloses Ebury (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Ebury Bank does not disclose a bank charter of its own; its banking services are provided through Ebury (in-house).
Ebury Bank processes payments through Ebury Payments (self-operated) and Nium.
Ebury Bank's lending and capital products are provided by Ebury (in-house).
Ebury Bank uses Ebury (in-house) and Nium for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 6 layers in Ebury Bank's stack: Payments / PSP (Ebury Payments (self-operated) and Nium); Banking / BaaS (Ebury (in-house)); Lending (Ebury (in-house), Ebury Supplier Payment Finance, Trade finance credit lines (£50k–£5m) and Unsecured working capital financing (up to 150 days)); FX & payouts (Ebury (in-house) and Nium); Accounting (NetSuite, Xero and Cobase); Spend / AP (Ebury Corporate Card (self-operated)).
Ebury Bank was founded by Juan Lobato and Salvador García and is founded in 2009, headquartered in London, United Kingdom.
Ebury Bank has raised £350M+ (Santander investment) in total (latest round: PE Growth / Santander majority stake; valuation: up to £2B (2024 IPO speculation)).
Ebury Bank's acquisitions include Bexs (Bexs Banco + Bexs Pay) (2023).
Get a read on where your own stack stands against Ebury Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.