The fintech has announced the opening of its first Australian office in Sydney, with its sights set on the nation’s underserved SMEs.
Ebury, a billion-dollar London-headquartered fintech, is set to target 20,000 Australian SMEs after opening its first office in Sydney with 15 sales and operations staff.
The fintech’s mission is to provide SMEs with global aspirations the tools and services that are “usually reserved for larger corporates”, including foreign exchange solutions in more than 140 currencies, currency accounts in more than 30 currencies and unsecured lending facilities.
It also offers individualised risk management and cash management strategies.
Speaking of the expansion, Ebury Australia country manager Rick Roache said: “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.
“We believe for a business to prosper, there needs to be as few boundaries as possible.”
The country manager claimed that the fintech’s tools and services have resonated well with the European, United Arab Emirates and North American markets, and it is now ready to service SMEs in the Asia-Pacific region.
“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,” Mr Roache said.
Ebury employs more than 600 people across 17 offices globally and expects its headcount to surpass 1,000 by the close of the year.
Since its inception in 2009, the fintech has reportedly received $110 million in venture capital from investors such as NIBC, 83 North, Vitruvian and AngelCoFund.