UK fintech 'unicorn' Ebury heads to Australia

Billion-dollar British fintech firm Ebury has set up shop in Sydney, having identified the Australian market as a good foothold for southern hemisphere expansion.

The company, which was founded in London in 2009 by Spanish entrepreneurs Salvador Garcia and Juan Lobato, helps small businesses transact internationally by offering tailored financing solutions which can usually only be accessed by major corporations through the big banks.

It offers international payments in over 140 currencies, as well as foreign exchange risk management strategies and import lending facilities.

“We are excited about the opportunity in Australia, and see it is a gateway country for the Asia Pacific and a key market in our ongoing global growth strategy. Australia is a fairly advanced business market and an export-led economy, which allows us to play to our strengths,” Mr Lobato told The Australian Financial Review.

“Following the model we used to expand in Europe, we will look to take significant market share, stabilise and embed our operation in Australia.”

The company competes with the likes of TransferWise, which has also expanded to Australia, and WorldRemit.

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Source: UK fintech ‘unicorn’ Ebury heads to Australia | afr.com