SoftBank's $800M investment in Greensill Capital gives the UK's financial sector a much-needed vote of confidence:
by former Morgan Stanley and Citigroup banker Lex Greensill and advised by former UK Prime Minister David Cameron, provides supply chain funding to businesses across 60 countries. SoftBank's investment via its $100 billion Vision fund, one of the world's largest tech investment vehicles, values the startup at $3.5 billion,Greensill's made a major mark on supply chain financing — and SoftBank's cash and know-how is likely to strengthen its position.
Greensill is a key player in the niche business of supply chain financing. The startup acts like a buffer between a business and its clients, allowing businesses to access greater working capital and giving client firms more time to pay off their debts. Businesses looking to secure financing from Greensill apply online, with the process completed in minutes.
SoftBank's investment in Greensill is the second major bet it's made on a UK fintech this year. SoftBank pumpedinto neobank OakNorth earlier this year. These investments are welcome news for the UK's fintech sector amid continued uncertainty over the effects of Brexit.
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