UK-based supply chain financing provider Greensill stands to receive $800m in funding from Vision Fund, the near-$100bn investment vehicle formed by telecommunications conglomerate SoftBank, Bloomberg reported yesterday.
The transaction will value Greensill at $3.5bn, founder Lex Greensill confirmed to Bloomberg today, more than doubling its previous valuation of $1.64bn, achieved when it raised $250m from growth equity firm General Atlantic in July 2018, and Vision Fund will get board seats as part of the deal.
Founded in 2011, Greensill provides supply chain finance to clients in North America, Europe, Africa and Asia, working with financial services firms and institutional investors to supply capital.
Greensill has extended more than $60bn in financing to date, covering more than 8 million clients across 60 countries. It also owns Germany-based commercial lender Greensill Bank, having acquired and rebranded financial services firm NordFinanz Bank in 2014.
The company has additionally established a vehicle known as Supply Chain Finance Fund, which has $3bn of assets under management.
SoftBank Vision Fund’s investment is expected to help Greensill accelerate its expansion efforts, which includes a recent entry into Brazil and planned launches in China and India.
The funding will also allow the company to develop new technologies that will further facilitate business access to working capital.
