Fintech
Ebury picks Goldman Sachs for £2bn UK IPO: report
Fintech firm Ebury has appointed Goldman Sachs to lead its planned £2 billion initial public offering (IPO), the Financial Times reported. Ebury, owned by Spanish bank Santander, is pushing its IPO plans as one of a handful of companies defying current market conditions.
Ebury’s decision to list in London, after considering various other options, is a vote of confidence for UK capital markets, which have seen a dramatic decline in share prices. Many fintech companies have recently been hesitant to list 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 £2 billion.
Last year IPO of the rival financial technology CAB Payments, which has seen its shares fall more than 70% in three months, has added to investor caution. Ebury’s listing move could serve as a critical test for London’s capital markets, which are aiming to attract more listings by improving their 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 latest notable success in the sector was Wise’s direct listing in 2021, which was widely celebrated as a triumph for the sector.
Other Fintech Companies Based in London
Ebury offers a range of services, including cross-border payments, payroll transfers, currency risk management and business loans. Founded in 2009 by Spanish engineers Juan Lobato and Salvador García, Ebury reported earnings before interest, tax, depreciation and amortization of £16 million and revenue of £204 million for the year ended April 2023.
Recently, Ebury has partnered with dLocala cross-border payments company focused on high-growth markets. This deal aims to enhance Ebury’s ability to facilitate international transactions, particularly in African markets.
In addition, the financial technology company is expanding its services across Brazil, with the Ebury Bank launch earlier this year. The company acquired Bexs Group, which includes Bexs Banco and Bexs Pay, and conducted the controller transition in accordance with the procedures of the Central Bank of Brazil.
Fintech firm Ebury has appointed Goldman Sachs to lead its planned £2 billion initial public offering (IPO), the Financial Times reported. Ebury, owned by Spanish bank Santander, is pushing its IPO plans as one of a handful of companies defying current market conditions.
Ebury’s decision to list in London, after considering various other options, is a vote of confidence for UK capital markets, which have seen a dramatic decline in share prices. Many fintech companies have recently been hesitant to list 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 £2 billion.
Last year IPO of the rival financial technology CAB Payments, which has seen its shares fall more than 70% in three months, has added to investor caution. Ebury’s listing move could serve as a critical test for London’s capital markets, which are aiming to attract more listings by improving their 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 latest notable success in the sector was Wise’s direct listing in 2021, which was widely celebrated as a triumph for the sector.
Other Fintech Companies Based in London
Ebury offers a range of services, including cross-border payments, payroll transfers, currency risk management and business loans. Founded in 2009 by Spanish engineers Juan Lobato and Salvador García, Ebury reported earnings before interest, tax, depreciation and amortization of £16 million and revenue of £204 million for the year ended April 2023.
Recently, Ebury has partnered with dLocala cross-border payments company focused on high-growth markets. This deal aims to enhance Ebury’s ability to facilitate international transactions, particularly in African markets.
In addition, the financial technology company is expanding its services across Brazil, with the Ebury Bank launch earlier this year. The company acquired Bexs Group, which includes Bexs Banco and Bexs Pay, and conducted the controller transition in accordance with the procedures of the Central Bank of Brazil.