The money from the Vision Fund will help the fintech firm to accelerate its expansion and develop new technologies to make more capital accessible to its clients.
Monday 13, May 2019
(Bloomberg) --SoftBank Vision Fund is investing $800 million into UK fintech Greensill.
The investment values Greensill, which provides alternative supply chain funding to companies, at $3.5 billion, that is more than double the level of almost a year ago, when the firm received $250 million from General Atlantic.
Additionally, Greensill estimates the largely untapped market for working capital finance at $55 trillion. It will also speed up its recent entry into Brazil as it advances plans to enter other markets, including China and India.
Greensill, co-founded in 2011 by ex-Morgan Stanley banker Lex Greensill, is taking on traditional banks, which typically offer working capital finance to a limited number of large clients.
The company has delivered annual growth of more than 100 per cent since 2015.