UK based working capital finance platform has raised $800m in venture financing from Softbank's Vision Fund, valuing he comapny at $3.5b.
Greensill plans to use the capital to grow into new markets including India, Brazil and China. The Vision Fund will have representatives on the company’s board as part of the investment, Lex Greensill said. The deal marks SoftBank’s second investment into non-traditional finance companies in the U.K. this year after earlier leading a $440 million round of funding into bespoke lender OakNorth Holdings. After the investment from SoftBank’s $100 billion Vision Fund, the firm won’t need additional funding immediately, but will consider options including an initial public offering “as time goes by,” Lex Greensill said in the interview. Greensill provides working-capital finance, buying invoices and trade receivables from companies who want to be paid more quickly for their services and packaging them into bonds to sell to investors, according to its website.