Powered by MOMENTUM MEDIA
subscribe to our newsletter

Ebury expands Australian presence

The global fintech has announced the opening of its new office in Melbourne, after a period of “rapid growth” in Australia.

Ebury announced that it has opened the doors of its second office on Australian shores on Collins Street, Melbourne, in light of a “period of exceptional nationwide growth”.

The new office comes just 12 months after the official launch of Ebury in Australia, which has been offering foreign exchange related products and services out of its Sydney office since August 2018.

Earlier this year, the non-bank also began offering trade finance for importing and exporting SMEs, which it said would help fill a void in the SME finance space.  

According to Ebury Australia managing director Rick Roache, since launching the new product three months ago, the Australian arm of the non-bank lender had become the fifth largest market of the 22 Ebury trade finance markets across the world.

Advertisement
Advertisement

Mr Roache added that he anticipates Australia becoming the third-largest Ebury offshoot, according to loan value, by 2020.

According to Mr Roache, the billion-dollar London-headquartered fintech initially ventured into the Australian market as it saw a huge opportunity to support Australian SMEs (particularly those with volatile revenue and cash flow), which have historically faced some difficulty gaining access to capital.

“Our sweet spot is that we combine FX and trade finance in one place, which is a strong and compelling proposition. We expect to grow significantly as we build out our client footprint,” Mr Road said. 

“Having people on the ground in Melbourne will help us develop deeper relationships with Victorian clients and better understand the nuances of their businesses, which is at the core of our offering.”

He continued: “Melbourne and Victoria are very important for Ebury’s growth plans in Australia. Melbourne is growing faster than Sydney and in 2018 generated almost 20 per cent of Australia’s GDP. This increases to 23.3 per cent of national GDP if regional Victoria is included.”

PROMOTED CONTENT


[Related: New player enters non-bank lending space]

Ebury expands Australian presence
Rick Roache
mortgagebusiness

If you have ever considered how you could better service your SME clients but lack the knowledge or confidence to do this beyond referring them on, this is a must-attend event for you. Don't miss SME Broker Bootcamp, a jam-packed, free-to-attend, practical workshop. Register today and secure your place at this interactive, flexible, must-attend event.

Hannah Dowling

Hannah Dowling is a journalist for mortgage business, the leading source of news, opinion and strategy for professionals working in the mortgage industry.

Prior to joining the team at Mortgage Business, Hannah worked as a content producer for a podcast catering to property investors. She also spent 6 years working in the real estate sector at a local agency. 

Hannah graduated from Macquarie University with a Bachelor of Media and Journalism. 

You can email Hannah at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The cash rate for the last month of 2021 has been confirmed, as analysts continue to speculate on when it will move next. ...

The big four bank has revealed plans to purchase a personal finance management platform from AMP, with plans to integrate the tool into its ...

The federal Treasurer has expressed concerns at the housing market running hot, but he is not sure if APRA will take further lending interve...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.