Ebury was set up in Sydney a year ago offering foreign exchange-related products and services having already achieved unicorn status with a $1 billion valuation.
Three months ago Ebury entered into Australia’s non-bank lending market by launching trade finance for importing and exporting SMEs and has become the fifth largest Ebury market in the world.
According to loan value Australia could become the third biggest market globally for Ebury said managing director Rick Roache.
Mr Roache said research showed SMEs in Australia were experiencing a $80 billion funding gap and faced great difficulty getting capital.
“That has proved to be the case. Our ability to provide trade finance for unsecured payables and receivables with line sizes of up to $5 million per client has been welcomed by a broad range of importing and exporting SMEs,” said Mr Roache.
Mr Roache said the sweet sport of Ebury was combing FX and trade finance in one place and he expected to keep growing the client footprint.
“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.
“Melbourne and Victoria are very important for Ebury’s growth plans in Australia,” said Mr Roache.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).