Greensill get funded by SoftBank to the tune of £628.56 million

13th May, 2019


London, United Kingdom– May 13, 2019– Greensill, the leading non-bank provider of working capital finance for companies globally, today announced an $800 million investment by the SoftBank Vision Fund.

The transaction underscores the value of working capital finance as the most advanced means of providing low cost capital to companies large and small, while opening up a new asset class to global investors.

Lex Greensill, Founder and Chief Executive Officer of Greensill, said: “The SoftBank Vision Fund’s investment is a resounding endorsement of the work we do at Greensill unlocking capital so our clients can put it to work. We are proud to welcome Masayoshi Son and the Vision Fund team into the Greensill family, and we are excited about the opportunity of working with the company, its many partners and beyond.”

The worldwide market for working capital finance is valued at $55 trillion, according to the latest research by Greensill, while only a small fraction of that opportunity has been accessed. Traditional banks typically offer working capital finance to a limited number of large clients. Greensill’s differentiated technology-driven approach opens the market to all companies no matter their size, scope or location based on a sophisticated, data-driven model.

“Greensill democratises access to capital using technology and the financial markets,” Lex Greensill added. “We are agents of technological disruption with a mission to make available finance at the lowest possible cost for our clients and their suppliers, whilst opening up a whole new asset class to global investors.”

Greensill is one of the largest non-bank bond issuers in Europe, working with more than 100 global institutional investors, unlocking capital to provide more than $60 billion of financing to more than 8 million customers across 60 countries.

The Vision Fund’s investment will accelerate Greensill’s development of new technology to further improve access to capital for companies globally and meaningfully enhance the firm’s ability to support the development of a broad, liquid capital market for working capital finance assets.

With the Vision Fund, Greensill will build on its partnership with General Atlantic to continue developing its already extensive global network, further grow its established origination and distribution strategy, and explore new and deeper opportunities for collaboration.

Greensill will also accelerate its recent entry into Brazil and plans to enter multiple global markets including China and India. Since 2015, Greensill has delivered annual growth of more than 100%.

Colin Fan, managing partner of SoftBank Investment Advisers said: “Greensill is a strong market leader in working capital finance and has played a pioneering role in the technological revolution that has transformed the industry.Through this new partnership, we see immense opportunity to introduce working capital finance to a new generation of businesses around the world.”

Morgan Stanley were financial advisors and Allen & Overy were legal advisors to Greensill on the transaction.

Source: https://www.greensill.com/news/greensill-announces-800-million-investment-by-the-softbank-vision-fund/

SatelliteTech company OneWeb raises a mammoth £950 million investment led by SoftBank

March 18, 2019 – OneWeb, a global communications company with a mission to bring connectivity to everyone, everywhere, announces it has secured its largest fundraising round to date with the successful raise of $1.25 billion in new capital. This brings the total funds raised to $3.4 billion. This round was led by SoftBank Group Corp., Grupo Salinas, Qualcomm Technologies Inc., and the Government of Rwanda.

The new funds, following the successful first launch of OneWeb’s satellites, enable the company to accelerate the development of the first truly global communications network by 2021. OneWeb’s system will deliver high speed, low latency, seamless broadband access, everywhere on Earth.

“This latest funding round, our largest to date, makes OneWeb’s service inevitable and is a vote of confidence from our core investor base in our business model and the OneWeb value proposition,” said Adrian Steckel, CEO of OneWeb. “With the recent successful launch of our first six satellites, near-completion of our innovative satellite manufacturing facility with our partner Airbus, progress towards fully securing our ITU priority spectrum position, and the signing of our first customer contracts, OneWeb is moving from the planning and development stage to deployment of our full constellation. Our success is made possible thanks to the backing of our investors and the cooperation of our world class commercial partners including Arianespace, Airbus, Qualcomm Technologies Inc., Virgin, and Hughes.”

OneWeb’s satellites, produced through its joint venture with Airbus doing business as “OneWeb Satellites”, will ramp-up production this spring at its new, state-of-the-art manufacturing facility in Exploration Park, Florida. Following the company’s successful launch of satellites on February 27th, OneWeb will embark on the largest satellite launch campaign in history. Starting in Q4, OneWeb will begin monthly launches of more than 30 satellites at a time, creating an initial constellation of 650 satellites to enable full global coverage. After this first phase, OneWeb will add more satellites to its constellation to meet growing demands.

On the additional investment, Marcelo Claure, COO of SoftBank Group Corp. and CEO of SoftBank Group International said: “OneWeb has extended its first-mover advantage and is on track to become the world’s largest and first truly global communications network. At SoftBank, our aim is to invest in transformative companies at the leading edge of technology disruption. OneWeb’s potential is undeniable as the growth in data from 5G, IoT, autonomous driving and other new technologies drives demand for capacity above and beyond the limits of the existing infrastructure.”

OneWeb’s priority rights to a large block of globally harmonized spectrum and its Low Earth Orbit (LEO) constellation design will enable a unique combination of high speed, low latency, and truly global service. OneWeb’s network will go beyond the limits of existing infrastructure, enabling connectivity for rural communities and schools as well as for business and industries that demand seamless global connectivity solutions such as Aviation, Maritime, Backhaul, and Land Mobility. OneWeb’s customers will be able to develop and support a wide range of emerging applications that require real-time communication and collaboration.

“I have worked for over 20 years to bring network access to people throughout Mexico and Latin America and have seen first-hand the power of connectivity to change and improve lives. OneWeb will have the ability to reach places that have previously been impossible to connect. We are proud to be supporting Adrian and the entire OneWeb team and are looking forward to creating new opportunities for people everywhere,” said Ricardo Salinas, Founder and Chairman of Grupo Salinas.

Greg Wyler, Chairman and Founder of OneWeb, added “We are committed to bridging the digital divide, and this funding helps ensure our globally shared dream will soon become a reality. We look forward to continuing our work with the many supportive and forward-looking Governments, ISP’s, and Telecom Operators to help them broaden the reach of connectivity to connect people everywhere.”

OneWeb’s network will provide services to billions and will support the emerging digital economy and advanced mobile application needs. To support the deployment of the system, OneWeb relies on high-tech satellite operation centers in both Virginia and in London, and has installed ground stations in Italy, Norway, and Canada, with more on the way. A global company, OneWeb now has offices in Virginia, London, Florida, California, and has recruited top talent around the world to execute the rollout of its system.

For more information please visit www.oneweb.world or follow us on Twitter & Instagram.

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About OneWeb

OneWeb’s mission is to enable Internet access for everyone, everywhere. OneWeb is building a communications network with a constellation of Low Earth Orbit satellites that will provide connectivity to people around the world. OneWeb is creating business solutions for Broadband, Government and Cellular Backhaul. Its high speed, low latency, network will offer game-changing Mobility solutions to industries that rely on global connectivity, such as Aviation, Maritime, Automotive, Trains and more. http://www.oneweb.world

Media Contacts

Press Contacts

  • Katie Dowdkdowd@oneweb.net+12024154030
  • Chris Torresctorres@oneweb.net+12024278068
  • FTI OneWeb Teamoneweb@fticonsulting.com