Banco Santander is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has presence in 10 core markets in Europe and the Americas, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Mercury TFS specializes in software solutions that automate the end-to-end management of trade finance transactions for corporate customers.
Banco Santander (NYSE: SAN) has invested in a majority stake in Mercury TFS to further invest in its global trade platform for companies. Santander will acquire 50.1% of Mercury TFS through the investment. One third of the invested funds will be utilized to subscribe for new shares in the company to fuel new services and boost growth in customer numbers and markets.
The head of Santander’s Global Payments Services, Javier San Félix, commented: “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 globalise 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.” San Félix is joining the company to chair its board with Santander holding four of the seven board seats.
Santander has utilized Mercury TFS’ services for years in Germany, Spain, Mexico and Chile.