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Softbank ramps up investment in finance company Greensill since it swoops on payday lending

Softbank has inserted an additional $655m (ВЈ511m) into Greensill given that online finance company announced a new purchase which could kill down payday lenders.

Greensill, that was put up by previous Morgan Stanley banker Lex Grensill, has obtained Freeup, a London technology startup built to provide workers payment that is early of salaries.

Softbank’s tech-focused Vision Fund is pumping in extra funds to aid the offer, in addition to further purchases and international expansion plans. It comes down after a preliminary $ investment that is 800m the Vision Fund in might in 2010.

Greensill’s focus that is current supply string funding enables a business’s vendors to secure very very very early re re re payments to pay for invoices. The company happens to be hoping to extend this up to an ongoing company’s workers.

Freeup’s technology allows employees to get very very early re payment for earned but unpaid wages at no cost that is additional. Continue reading