Softbank is injecting more cash into British FinTech unicorn Greensill.
In Brief:
The Japanese giant will invest the money as part of a plan to launch a new service.
The new service aims to negate the need for payday loans which are seen as controversial in the UK.
According to reports, Greensill is looking to buy tech company FreeUp which helps employees get their wages early.
What does this mean?
The SoftBank Vision Fund has already invested heavily in Greensill, having put in $800mn in May. The new investment in a UK business shows SoftBank has not been put off by its investment in WeWork which faced recent criticism.
