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13.05.2019

SoftBank is investing in Greensill

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Softbank is poised to invest £500m in a venture led by former Citigroup banker Lex Greensill. The investment values Greensill at US$3.5 billion. If the deal goes ahead, Greensill Capital, a provider of supply chain finance, would be one of the wealthiest London-headquartered fintech startups.

A deal between the two companies could be announced as early as Monday.

Stocks impacted: SoftBank Group Corp (SFTBY)

The Vision Fund investment would buy it a stake of between 15 and 20pc in Greensill Capital. At the same time, by the market close in Tokyo on Monday, shares of SoftBank Group were down 3.25% as shares of Uber plunged more than 7% on Friday after its IPO day on Wall Street. As a reminder, Vision Fund is a major investor in Uber.

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