Wirecard AG, a near Munich, Germany-based digital financial technology company listed on the Frankfurt Stock Exchange (DAX and TecDAX), is to receive a €900m investment from SoftBank Group Corp., via a convertible bond mechanism.
Wirecard shall issue convertible bonds with a term of five years exclusively to SoftBank, convertible to 6,923,076 ordinary shares (currently corresponding to approximately 5.6% of common stock) at €130 per share.
In conjunction with the investment, the parties have also signed a memorandum of understanding (MoU) under which SoftBank Group will seek to support Wirecard’s geographic expansion into Japan and South Korea, as well as providing collaboration opportunities within SoftBank Group’s global portfolio in digital payments, data-analytics/AI and other innovative digital financial services.
The partnership will also extend to joint exploration of new product and service offers in digital lending.
Led by Markus Braun, CEO, Wirecard is a global leader in innovation for digital financial technology, employing more than 5000 employees in 26 countries. The company provides businesses and end customers alike with an expanding ecosystem of real-time value-added services.
The ecosystem focuses on the areas of:
– payment & risk,
– retail & transaction banking,
– loyalty & couponing,
– data analytics & conversion rate enhancement.
These services are available for all sales channels, including online, mobile and ePOS.