Ebury, the global financial technology firm headquartered in London has announced the acquisition of financial services firm Prime Financial Markets based in Johannesburg, South Africa. Prime
Financial Markets is a registered Financial Services Provider offering
financial market advice and intermediary services in the treasury and financial
market space with significant experience supporting customers with their
financial market exposure.
The financial institution's capabilities include treasury evaluation services, hedge
execution services, systems offering, liquidity and covenant management as well
as treasury policy and risk integration advice.
The
acquisition marks Ebury’s entrance into Africa for the first time, establishing
a local office in South Africa. Demand for Ebury’s services has driven
significant international growth with over 1,700 employees operating from 38
offices in 23 countries with annual transaction volumes of over $27
billion.
Ebury is an
FX and payments specialist, offering financial solutions to help SMEs and
midcaps trade internationally. It specialises in international payments and
collections, offers foreign exchange in over 130 currencies for both major and
emerging markets, as well as cash management strategy, trade finance, and foreign
exchange risk management.
Juan Lobato, Co-Founder and Co-CEO at Ebury, commented: “We’re
delighted Prime Financial Markets are joining the Ebury family. Its
complimentary suite of services is a natural fit with our global capabilities
and the transaction enables us to establish a new geographic presence at the
heart of Africa’s financial services market. International expansion is key to
our strategy and this acquisition further strengthens both our platform for
growth and our ability to provide a market-leading service to clients.”
Gert Delport, Managing Director at Prime Financial Markets, commented: “Ebury’s global
scale, innovative technology and bespoke customer service makes them a natural
partner for our business. It is a hugely ambitious business and we look forward
to achieving those lofty strategic goals together particularly in Africa, our
geography of expertise.”
