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Finance & Economics

Santander acquires majority stake in Spanish fintech firm

Mar 16, 2020

The bank’s transaction forms part of its digital strategy to accelerate growth by buying up corporate stakes

Santander bank and Mercury TFS

Santander acquires majority stake in Spanish fintech firm. Source:?shutterstock.com

Santander has made a €30 million investment, acquiring a 50.1%? stake in Mercury TFS. This way, Santander aims to enhance its international trade offer and consolidate its position as the preferable bank for SMEs and corporates with international operations.

One-third of the investment will be focused on the subscription for new shares, according to information. It will inject funds into the company, enabling new services and boosting growth in customer numbers and markets.

Besides, Mercury TFS’ CEO and head of technology will continue to head up the company.

The investment accelerates our plans to build a service platform for SMEs and international companies to better serve our customers worldwide. We are also helping to globalize Mercury TFS, a software company with huge potential and a team with enormous talent, by reinforcing their technical and commercial teams and complementing their already broad product range
Javier San Félix, the head of Santander's Global Payments Services

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