Santander buys majority stake in fintech Mercury TFS for 30 million euros

Industry:    2020-03-16

Banco Santander said on Friday it agreed to pay 30 million euros ($33.54 million) for a majority stake in Spanish fintech company Mercury TFS that develops trade finance software for companies.

“Their software enables Santander customers to manage their entire trade finance activity online or via mobile phone,” the Spanish bank said in a statement on Friday.

Santander acquired a 50.1% stake in Mercury, which employs 130 people in Spain, Mexico, Chile and Colombia.

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