ArcaPay, a Vilnius-based leader in currency conversion and international payments, has signed an agreement to sell its shares to Ebury, a global financial technology firm controlled by Santader Bank that empowers small- and medium-sized businesses (SMEs) to trade and grow internationally.
The acquisition of ArcaPay, which is subject to regulatory approvals, will enable Ebury to expand in the Baltics, help existing clients grow in the region and further strengthen and complement its core capabilities in cross-border payments.
Ebury has reported an 8% revenue growth for the fiscal year ending 30 April 2024, with total revenue reaching £220.6 million. The fintech has been actively expanding over the past year, establishing offices in Dublin and Stockholm and launching operations in South Africa, New Zealand, Chile, and Mexico.
Based in Vilnius, Lithuania, ArcaPay offers cross-border payments, and currency risk management services tailored to small- and medium-sized businesses (SMEs). Founded in 2011, the company has grown to serve about 1500 clients, addressing the increasing demand from SMEs in the Baltic and Finnish markets.
“This deal is extremely significant not only for ArcaPay but also for the entire financial services market. Ebury is an active market player, undertaking numerous strategic acquisitions and development projects, all controlled by its main shareholder, Santander Bank. The entry of such a reputable bank into Lithuania, even indirectly, serves as a strong endorsement of the client’s business development and demonstrates confidence in our market potential. We can take pride in this,” says Žygimantas Stankevičius, partner at TGS Baltic.
ArcaPay has been a valued client of TGS Baltic. We have provided the company with a wide range of legal services, from securing its operational license to advising on the successful exit.
During this transaction, TGS Baltic advised ArcaPay’s founder, Marius Bausys. The M&A workstream was led by Paulius Dabulskis and Rūta Tikuišytė, while Žygimantas Stankevičius, Indrė Barauskienė and Rasa Blinstrubienė advised on other matters.
