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Santander acquires invoicing, expense management app Albert

Spain's Banco Santander SA said Dec. 18 that it acquired U.K.-based financial technology firm Albert, including its team and technology, for an undisclosed amount.

Albert develops and operates an invoicing and expense management app aimed at freelancers and micro-businesses. Santander said the acquisition is in line with its strategy to better support the U.K.'s 5.7 million small-business owners.

The acquisition will not disrupt Albert's services and it will continue to operate as before.

Santander operates in the U.K. through Santander UK Group Holdings PLC and Santander UK PLC.