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Ebury, a European fintech for global corporate transaction services, has set up shop in Australia, as it estimates more than 20,000 companies in the country can tap its services.
The firm is known for providing SMEs with the tools and services that are usually reserved for larger firms, including foreign exchange, lending facilities and currency accounts. Ebury has opened an office in Sydney with an initial headcount of 15 and aims to help local SMEs that want to expand internationally.
The company also has an unsecured lending facility it aims to launch in Australia later this year.
“We see tremendous potential to meet the growing needs for payment, foreign exchange, lending and treasury solutions from local SMEs who aren’t being well served by the traditional bank model,” said Ebury Australia country manager Rick Roache.
The firm was established in London in 2009. It has since grown to more than 600 people across 17 offices in Europe, the UAE, North America, and now Australia. “We see Australia as a key territory in our entry to Asia Pacific. Following the model we used to expand in Europe, we will look to take significant market share, stabilise and embed our operation in Australia and then use it as a stepping stone to another market in the region,” Roached added.
