UK fintech ‘unicorn’ establishes Australian office to access Asian markets
17 Sep 2018
Ebury, a billion-dollar British fintech company specialising in international
payments, foreign exchange and import lending facilities, has opened an office in Sydney to expand into Asian markets.
Juan Lobarto, co-founder of Ebury, told the Australian Financial Review (AFR) he is excited about the opportunities in Australia.
‘We see it is a gateway country for the Asia Pacific and a key market in our ongoing global growth strategy,’ he says. ‘Australia is a fairly advanced business market and an export-led economy, which allows us to play to our strengths.’
Rick Roache, Australian Managing Director of Ebury, says the company has hired 15 people for its Sydney office and plans to expand the team quickly, according to the AFR.
‘Originally a lot of growth had come out of Europe, but now we feel like it's a strong time to enter Australia,’ he says.
‘The opportunity here is stronger than it is in London because it's well known to be heavily competitive between banks and non-banks. We believe the banks aren't giving the pricing that we can deliver.’
Founded in London in 2009, Ebury employs more than 600 people across 17 offices in Europe, the United Arab Emirates, and North America. According to the AFR, Ebury expects employee numbers to exceed 1,000 by the end of the year. The company services 24,000 small business clients globally.