SoftBank-backed Greensill buys Colombia fintech

Wednesday 24 June 2020 09:27 CET | News

SoftBank-Backed Greensill Capital, a company that helps businesses fund their operations, has announced it is acquiring Colombia-based Omni Latam to speed up growth in Latin America.

The closely held fintech companies didn’t disclose a price for the all-stock deal, which is aimed at helping UK-based Greensill expand into Latin America, including Brazil and Mexico, according to Greensill. Omni provides working capital to small and midsize businesses in Colombia and Chile, and Greensill offers supply chain finance globally, making loans companies use to pay their suppliers.

Omni, founded in 2018 in Bogota, has provided about USD 300 million in digital working-capital products to small and midsize businesses that supply large companies in Chile and Colombia. The companies collects data such as invoices and tax forms to help make credit decisions based on the prospective borrower’s clients, sales and employees.

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Keywords: Greensill Capital, Omni Latam, working capital, supply chain finance, loans, suppliers
Categories: Banking & Fintech
Countries: Latin America
This article is part of category

Banking & Fintech