SoftBank's Vision Fund invests $800mn into UK fintech Greensill
A report by Bloomberg has revealed that SoftBank is investing into a UK fintech through its Vision Fund.
Greensill Capital is a London-based company that provides alternative supply chain funding. Founded in 2011, with ex-Morgan Stanley banker Lex Greensill among the founding members, the company also has offices in the US, Germany and Australia. Greensill has over 290 specialists worldwide, with the aim of changing the way businesses unlock capital.
SEE ALSO:
- Lemonade reaches $2bn unicorn valuation with $300mn funding round from SoftBank
- Cross-border payments fintech Airwallex becomes unicorn after $100mn funding round
- Five things you need to know about fintech unicorn Monzo
- Read the latest issue of FinTech Magazine!
According to reports, the company will be valued at $3.5bn following the investment. The Telegraph has commented that if the deal goes ahead as reported, Greensill will become one of the wealthiest London-headquartered fintech startups.
The source who spoke to Bloomberg commented that the company intends to explore new markets: it has just entered Brazil and will now look to China and India.
The SoftBank Vision Fund is famously worth $100bn in total. It was created in 2017 through partnership with the Public Investment Fund of Saudi Arabia. So far, notable beneficiaries of the fund have included Flipkart, Slack, Paytm, Policy Bazaar, WeWork and DiDi.
