SoftBank Vision Fund said to be injecting $800m in UK fintech firm Greensill

Photograph: Bloomberg

SoftBank Vision Fund is injecting $800 million into UK fintech Greensill, according to a person familiar with the matter.

The investment values Greensill, which provides alternative supply chain funding to companies, at $3.5 billion, the person said. That’s more than double the level of almost a year ago, when the firm received $250 million from General Atlantic LLC. Greensill declined to comment, while SoftBank couldn’t immediately be reached for comment.

Greensill estimates the largely untapped market for working capital finance at $55 trillion. The money from Vision Fund will help it accelerate its expansion and develop new technologies to make more capital accessible to its clients, the person said. It will also speed up its recent entry into Brazil as it advances plans to enter other markets, including China and India.

Greensill, co-founded in 2011 by ex-Morgan Stanley banker Lex Greensill, is taking on traditional banks, which typically offer working capital finance to a limited number of large clients. Since 2015, the company has delivered annual growth of more than 100%.

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Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.