Greensill, a London, United Kingdom–based non-bank provider of working capital finance for companies globally, received an $800m in funding.
The SoftBank Vision Fund made the investment.
The company intends to use the funds to:
– accelerate development of new technology to further improve access to capital for companies globally,
– enhance its ability to support the development of a broad, liquid capital market for working capital finance assets, and
– accelerate its recent entry into Brazil and enter multiple global markets including China and India.
Led by Founder and Chief Executive Officer Lex Greensill, Greensill is a provider of working capital finance for companies globally. The company provides businesses with alternative sources of funding, allowing them to provide suppliers with the opportunity for faster payment, while at the same time preserving their own capital position.
Greensill provides Working Capital Finance facilities to customers across Europe, North America, Latin America, Africa, and Asia.
The company owns Greensill Bank, which, founded in Bremen, Germany in 1927, has a suite of proprietary Supply Chain Finance Funds run by world leading fund management organizations, and works with more than 100 institutional investors that together provide stable funding. Greensill has extended more than $60 billion of financing to more than 8 million customers across 60 countries since inception.
The company is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Sao Paulo, Mexico City, Johannesburg, Sydney, Warrington and Bundaberg.
With the Vision Fund, Greensill will build on its partnership with General Atlantic to continue developing its global network, further grow its established origination and distribution strategy, and explore new opportunities for collaboration.