Ebury announces £18m ($30m) funding to accelerate its growth
23/Jun/2014 • In The News•
Ebury announces that it has received £18m ($30m) of investment to accelerate its expansion.
This includes an 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 investment 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.”