Fintech company Ebury has appointed Goldman Sachs to
lead its planned £2bn initial public offering (IPO), the Financial Times
reported. Ebury, owned by Spanish bank Santander, is pushing its IPO plans as one of the few companies defying the
current market conditions.
Ebury’s decision to list in London, after evaluating
various other options, represents a vote of confidence for the UK capital
markets, which have seen a dramatic drop in listings. Many companies in the
fintech sector have recently hesitated to go public due to high interest rates
and volatile market conditions. Sources familiar with the matter suggest the IPO
could take place in the first half of next year, with Ebury potentially valued
at around £2bn.
Last year’s IPO of rival fintech CAB Payments, which
saw its shares plummet over 70% within three months, added to investor caution.
Ebury’s listing initiative could serve as a critical test for London’s capital
markets, which aims to attract more listings by enhancing its regulations.
Other London-based fintechs, such as Zopa, Revolut,
Starling, and Zilch, have also indicated potential plans to go public in the
coming years. The last notable success in the sector was Wise’s direct listing
in 2021, which was widely celebrated as a triumph for the industry.
Other London-based Fintech Firms
Ebury offers a range of services, including
cross-border payments, payroll transfers, currency risk management , and
business lending. Founded in 2009 by Spanish engineers Juan Lobato and Salvador
García, Ebury reported earnings before interest, taxes, depreciation, and
amortization of £16 million and revenue of £204 million for the year ending
April 2023.
Recently, Ebury entered into a partnership with dLocal, a cross-border payment firm focusing on high-growth markets. This agreement
seeks to boost Ebury’s capability in facilitating international transactions,
particularly in African markets.
Besides that, the financial technology company is expanding its services across Brazil, with the launch of Ebury Bank early this year. The company bought Bexs Group, which includes Bexs Banco and Bexs Pay, and conducted the transition of controllers as per the Brazilian Central Bank procedures.
Fintech company Ebury has appointed Goldman Sachs to
lead its planned £2bn initial public offering (IPO), the Financial Times
reported. Ebury, owned by Spanish bank Santander, is pushing its IPO plans as one of the few companies defying the
current market conditions.
Ebury’s decision to list in London, after evaluating
various other options, represents a vote of confidence for the UK capital
markets, which have seen a dramatic drop in listings. Many companies in the
fintech sector have recently hesitated to go public due to high interest rates
and volatile market conditions. Sources familiar with the matter suggest the IPO
could take place in the first half of next year, with Ebury potentially valued
at around £2bn.
Last year’s IPO of rival fintech CAB Payments, which
saw its shares plummet over 70% within three months, added to investor caution.
Ebury’s listing initiative could serve as a critical test for London’s capital
markets, which aims to attract more listings by enhancing its regulations.
Other London-based fintechs, such as Zopa, Revolut,
Starling, and Zilch, have also indicated potential plans to go public in the
coming years. The last notable success in the sector was Wise’s direct listing
in 2021, which was widely celebrated as a triumph for the industry.
Other London-based Fintech Firms
Ebury offers a range of services, including
cross-border payments, payroll transfers, currency risk management , and
business lending. Founded in 2009 by Spanish engineers Juan Lobato and Salvador
García, Ebury reported earnings before interest, taxes, depreciation, and
amortization of £16 million and revenue of £204 million for the year ending
April 2023.
Recently, Ebury entered into a partnership with dLocal, a cross-border payment firm focusing on high-growth markets. This agreement
seeks to boost Ebury’s capability in facilitating international transactions,
particularly in African markets.
Besides that, the financial technology company is expanding its services across Brazil, with the launch of Ebury Bank early this year. The company bought Bexs Group, which includes Bexs Banco and Bexs Pay, and conducted the transition of controllers as per the Brazilian Central Bank procedures.
