UK fintech Ebury reportedly in talks with banks over potential 2025 LSE debut
UK-based fintech Ebury is reportedly in talks with a number of banks to support a potential 2025 listing on the London Stock Exchange (LSE).
Ebury reportedly in talks with banks for potential IPO
Bloomberg reports that the cross-border payments platform has held discussions with the banks about initiating an IPO next year at a valuation of up to £2 billion, citing sources familiar with the matter.
The sources add that these unnamed banks would support Ebury with underwriting its stock market floatation, with the exact terms of any potential listing subject to change.
Ebury operates as part of the PagoNxt payments platform of Spanish banking giant Santander, which acquired a 50.1% stake in the fintech in November 2019 to the tune of £350 million. The bank’s stake later rose to 54%.
The London-based fintech specialises in facilitating international payments and collections for businesses, while also offering foreign exchange, trade finance and cash management services.
In its full-year results posted last November, which revealed revenues of £204 million and a transaction volume of £25.5 billion, Juan Lobato, founder and CEO of Ebury, stated the fintech is “in a stronger position than ever before”.
This position, Lobato claims, is powering its “big ambitions”, which include “exploring an IPO of the business on the back of our strong financial and commercial performance to maximise Ebury’s potential”.
Ebury has also been ramping up its acquisition activity in recent years. This activity includes its acquisition of Brazil’s Bexs in May 2022, followed by its takeover of Trans Skills Investment for payroll processing in the Middle East, and most recently, its purchase of Prime Financial Markets and subsequent entry into the African payments market late last year.
