SoftBank has made another bet on the European fintech sector … and this one is its biggest yet.
The investor's Vision Fund has invested $800 million in Greensill Capital, a provider of supply chain finance, in a move that reportedly values the UK company at around $3.5 billion. The deal reportedly gives the investment juggernaut a holding of between 15% and 20%.
The capital injection will help the business to invest in and develop existing and new technologies in a bid to make more capital accessible to its clients. Having recently entered the Brazilian market, Greensill also plans to further expand its international presence to countries such as China and India.
Founded in 2011 by ex- Morgan Stanley banker Lex Greensill, the company provides working capital finance for businesses across 60 countries. It claims to have extended more than $60 billion of financing to more than 8 million customers and also holds a supply chain finance fund that has $3 billion in AUM.
This deal comes almost a year after Greensill received a $250 million investment from private equity firm General Atlantic, in which former UK prime minister David Cameron, who is among Greensill's advisors, is said to have been instrumental in orchestrating. The business at that point had a valuation of $1.6 billion.
SoftBank has been investing heavily in startups on the continent recently. In February, OakNorthbroke the record of biggest ever European fintech deal with a $440 million investment from the Tokyo-based backer alongside Clermont.
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