Softbank Fund to Invest 800 M. Dollars in Greensill

Economy

London, May 14 (Jiji Press)--London-based fintech company Greensill Capital has said it will receive an 800-million-dollar investment from a fund managed by Japanese technology titan Softbank Group Corp. <9984>.

"The Softbank Vision Fund's investment is a resounding endorsement of the work we do at Greensill," Lex Greensill, founder and chief executive officer of Greensill, said in a statement on Monday.

The 10-trillion-yen fund, which Softbank set up jointly with the Saudi Arabian government and others, is expected to acquire an equity stake of 15-20 pct in Greensill in exchange for the investment.

Greensill is a provider of supply chain finance. The company claims that its unique model provides early payments to suppliers so that businesses have the capital they need when they need it.

According to Greensill, the firm operates in more than 60 countries and regions around the world, with the total amount of financing reaching 60 billion dollars and the number of customers surpassing eight million.

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Jiji Press