Greensill eyes global expansion as it secures an extra $655 million from SoftBank

Business Insider | 10/29/2019 | Mekebeb Tesfaye
normanorma (Posted by) Level 4
Click For Photo: https://image.businessinsider.com/5d9470ab87966d026075ff1e?width=1200&format=jpeg&imgtype=.jpg

This story was delivered to Business Insider Intelligence Fintech Pro subscribers earlier this morning.

To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.

Greensill - Capital - Supply - Chain - Financing

Greensill Capital, a UK-based supply chain financing startup, has secured an additional $655 million from SoftBank's technology-focused Vision Fund, per a press release.

The latest capital injection values the company at just shy of $4 billion, per CityAM, and follows Softbank's $800 million investment in the firm earlier this year, when it was valued at $3.5 billion. This investment is in the form of convertible loan notes that will be switched to primary and secondary shares over time, reports Reuters citing a source close to the startup.

Greensill - Tranche - Capital - Expansion - Business

Greensill has earmarked the latest tranche of capital for the expansion of its fast-growing business:

Greensill will use some of its fresh capital to expand the geographies it operates in and further invest in its technology. It's already become a key player in the niche business of supply chain financing, unlocking more than $150 billion of financing to over 8 million suppliers and clients in 2019 alone. This success has partially been driven by its vast reach: It provides solutions in 165 countries. Greensill's decision to use this latest investment for expansion and tech investment therefore makes sense, and follows its recent announcement that it would be accelerating its expansion in Brazil and moving into new countries including China and India.

Part - Capital - Business - Lines - Acquisitions

It'll also use part of the capital to expand into tangential business lines via acquisitions....
(Excerpt) Read more at: Business Insider
Wake Up To Breaking News!
Homeschool or State Thought Police School, you choose.
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!