Fintech company Ebury has announced the acquisition of Frontierpay, an international payroll payments provider with offices in the UK and Singapore.
The acquisition is the first from Ebury as the business looks to accelerate growth in new markets. Following recently announced banking partnerships with SACE Simest and Unicaja Banco, Ebury is investing in technologies that will accelerate the automation of treasury and international payments functions
International payroll payments specialist, Frontierpay, will expand Ebury’s capabilities in technologies that automate international payments for SMEs.
Juan Lobato, Ebury’s Co-founder and CEO, commented: “I am delighted to announce Ebury’s first acquisition. This transaction comes during a period of change for our business, as we partner with more financial institutions and invest heavily in the technologies that will change the way SMEs trade and make payments internationally.
“We know Frontierpay well so are confident of the product, client and geographic benefits and, most importantly, the cultural fit. The addition of Frontierpay’s founders to our team will complement our entrepreneurial spirit and add valued experience to our team.
“The continued addition of products to Ebury’s core platform demonstrates that as the platform matures, revenue opportunities develop through new service lines as well as geographic expansion. The development of an acquisition strategy will accelerate our growth, as we can reach more clients with more services than ever before. We look forward to another exciting period ahead.”