Ebury, a leading global fintech company, has commenced operations in Chile. Founded in London in 2009, the company specializes in international payment and collection services and currency risk management for small and medium-sized enterprises. Its principal investor is Banco Santander Spain, with additional participation from AngelCoFund and 83North.
With a presence in 25 countries and a global portfolio of 50,000 clients, Ebury recorded transactions of over USD $28.8 billion in 2022.
In an interview with the digital magazine DF, Duarte Líbano Monteiro, head of Latam at Ebury, and Alfonso Molinare, country manager, shared the company’s plans for Chile. Operations started last month, with Chile chosen to strengthen its expansion in Latin America, complementing its presence in Brazil.
Recently, Ebury acquired Bexs Group in Brazil after receiving the necessary regulatory approvals. Molinare emphasized that Chile has an open economy to international trade, making it attractive for their operations.
Ebury anticipates three-digit growth rates for the first phase of operations in Chile. The executives indicated that if their plans consolidate, the company would consider using Chile as a base for broader regional expansion.
Ebury’s entry into Chile marks a significant step in its expansion and growth strategy in Latin America. Focused on providing efficient financial solutions to SMEs, Ebury aims to capitalize on the opportunities of the Chilean market and strengthen its presence in the region.
The arrival of Ebury in Chile not only underscores the country’s growing importance in the Latin American fintech landscape but also promises to provide local businesses with new tools to manage their international financial operations more effectively and safely. With its solid track record and experience across various markets, Ebury is well-positioned to become a key player in Chile’s fintech sector and the region.
Latin America and the Caribbean now have 2,482 financial technology companies, according to a study published yesterday by the Inter-American Development Bank (IDB) and Finnovista. This figure, which represents almost 23% of all fintechs worldwide, reflects that the sector combining financial services with digitalization is rapidly expanding in the region, with Chile ranking fifth.