Ebury, a financial technology company offering cross-border payment solutions, is progressing with its expansion across Brazil. The company recently launched Ebury Bank, an exclusive brand for the Brazilian market, reflecting the local foreign exchange banking license held to offer a wide range of products for legal entities.
The company acquired the Bexs Group, which includes Bexs Banco and Bexs Pay, and is finalizing the transition of controllers following Brazilian Central Bank procedures.
Fintech Ebury Advances Expansion in Brazil
For foreign trade companies, Ebury Bank looks to expand offerings that address inherent financial risks, as the Brazilian real is highly volatile against currencies like the US dollar and Chinese yuan.
"Brazil is a key country in Ebury's geographic expansion. We believe it will be crucial to increase our revenues while helping local companies access international trade," said Fernando Pierri, the Global Chief Commercial Officer at Ebury.
As part of its Brazil plans, Ebury intends to hold an initial public offering within the next two years. Founded in 2009, Ebury operates in over 25 countries, with the UK, Spain and Brazil as flagship markets. It aims to expand foreign exchange services for SMEs and through application programming interfaces to platforms and tech companies.
Beyond Brazil
In addition, Ebury has operations in Chile and recently entered the African market via an acquisition in South Africa. Regarding API products, Ebury bets on facilitating China-Brazil trade and payments.
"There's potential to simplify Chinese players' access to Brazil, considering aspects from shopping to payment methods," said Luiz Henrique Didier Jr., Executive in charge of FX as a Service at Ebury.
Also, the company is further extending its collaborations with sports clubs by announcing a new agreement with PSV Eindhoven, a Dutch football team. Fintech has secured a multi-year deal to become the "official fintech partner" of the club.
Ebury provides international payment, FX and risk management solutions across over 130 currencies. Founded by Juan Lobato and Salvador García, the company has grown to employ more than 1,700 workers globally and processes £27 billion in annual transactions.
