Santander will own 50.1% of the company as it tries to target the SME finance market. The company did £40-50m in revenue last year, valuing it at roughly 12x revenue. This is one of the first £0.5bn+ acquisitions a bank has made.
https://www.ft.com/content/ab45172e-feda-11e9-b7bc-f3fa4e77dd47
Santander buys majority stake in UK fintech Ebury for £350m
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