Leading venture capital firm which invested in Just-Eat, Payoneer, Actifio and notonthehighstreet.com backs London-headquartered financial services specialist
Ebury, the fast-growing financial services company that helps small and mid-sized businesses trade and grow internationally, announces that it has received £18m ($30m) of investment to accelerate its expansion.
This includes an equity investment by Greylock IL, the leading VC firm that has backed companies including Just-Eat, Payoneer, iZettle and notonthehighstreet.com. Other investors also participated. Laurel Bowden, a Partner at Greylock IL, will join Ebury’s board as a non-executive director.
The funding, which is composed of debt and equity, reflects Ebury’s success in meeting clients’ needs, and its fast growth and strong financial performance. It also endorses Ebury’s vision of a world where small and medium-sized companies increasingly operate across national borders to remain competitive and accelerate their growth. The investment will be used to help fund Ebury’s continued expansion, as it grows internationally and develops new products and services.
Using Ebury’s integrated financial services, small and mid-sized companies can make and receive payments in foreign currencies, enjoy competitive exchange rates, use emerging-market currencies, hedge currency risk and benefit from liquidity. They can also access short-term finance, and make transactions in more than 100 currencies – quickly and easily with Ebury’s managed service.
Salvador Garcia Andres, CEO and Founder of Ebury, said: “The opportunities that come from trading internationally are no longer reserved for large companies. Technology and globalisation have changed the nature of business.
“However, conducting business across national boundaries also brings challenges. Ebury empowers small and mid-market firms, providing financial products and a managed service to help them make the most of international markets. We help companies go global.
“Importantly, we do this at a time when banks are struggling to serve smaller and mid-market business clients. Greylock IL’s investment reflects our success in serving a fast-growing number of clients effectively, our strong performance as a business, and endorses our vision for the future.”
Laurel Bowden, Partner at Greylock IL, said: “Ebury has built a brilliant business by understanding its clients’ needs, innovating and providing them with outstanding services. They also have a clear vision of the future, having seen the potential and need for small and medium-sized companies to trade internationally. We believe they have great potential to continue to grow rapidly, helping mid-sized companies to compete across national boundaries.”
Ebury was founded in 2009, and used its expertise in competitive currency services as a platform to grow a broader business to help companies trade internationally.
Today, it has more than 3,000 mid-market firms as clients, and employs more than 170 people. Its head office is in London, and it also has offices in Madrid and the Amsterdam. It is regulated as an Authorised Payments Institution by the UK’s Financial Conduct Authority.