Ebury, a UK-based global financial technology company, has announced the acquisition of South Africa-based financial services company Prime Financial Markets.
The acquisition marks Ebury's first entry into Africa and the establishment of a local office in South Africa. According to the announcement, demand for Ebury's services has driven international growth. Over 1,700 employees operate in 38 offices in 23 countries, generating over $27 billion in annual transaction volume.
Prime Financial Markets is a registered financial services provider providing financial market advisory and brokerage services in the treasury and financial markets sectors and is experienced in supporting clients with their financial market engagement.
As stated in the official press release, Prime Financial Markets' competencies include treasury valuation services, hedge execution services, system offerings, liquidity and covenant management, as well as treasury policy advice and risk integration.
Ebury is a foreign exchange and payments specialist, providing financial solutions that help SMEs and midcaps trade internationally. The company specializes in international payments and collections, offering foreign exchange in over 130 currencies for major and emerging markets, as well as cash management strategy, trade finance and foreign exchange risk management.
Ebury officials emphasized that Prime Financial Markets' free service offering is a natural complement to its global capabilities. This transaction enables Ebury to establish a new geographical presence at the heart of the African financial services market.
About Ebury
Ebury is a global financial services company dedicated to enabling international trade and growth for businesses of all sizes by removing global barriers. It offers unified solutions such as international payments and collections, foreign exchange in more than 130 currencies, cash management, business lending, risk management and API integrations.
Ebury's product strategy enables the company to become a more embedded financial services partner by providing comprehensive cash management, payments, lending and FX risk management solutions. These product capabilities are bundled through a global, reliable, easy-to-use and secure platform based on scalable infrastructure, treasury management capabilities and regulatory compliance expertise.
In October 2023, Ebury announced that the Brazilian Central Bank had approved its acquisition of Bexs Group. Following this approval, both companies would work to advance integration procedures and accelerate the launch of new products in the Brazilian market.
The acquisition was expected to expand Ebury's offering of international money transfer solutions for SMEs and expand its digital offerings for online businesses in Brazil, particularly marketplaces, investment applications and software companies. Ebury will enable large-scale payments from abroad to Brazil by leveraging Bexs Group's technology. The company aims to acquire 3,000 customers in the country by 2025.
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