- Ebury, a UK-based fintech, acquires Prime Financial Markets in South Africa for an undisclosed sum.
- Prime Financial Markets provides intermediary services, treasury evaluation, hedge execution, financial advice, and risk mitigation in the treasury and financial market space.
- Ebury aims to integrate Prime Financial Markets’ services to enhance offerings for international SMEs.
- Ebury specializes in international payments, foreign exchange, cash management, trade finance, and foreign exchange risk management.
- The acquisition enabled Ebury to debut in Africa, establishing a local office in South Africa.
- Juan Lobato, Ebury’s co-founder, sees Prime Financial Markets as a “natural fit” for global capabilities and emphasizes international expansion in the company’s strategy.
- Ebury previously entered the Brazilian market in May 2022 through the acquisition of Bexs fintech businesses. Currently operates in 23 countries worldwide.
