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Mr Greensill said that only a "small fraction" of a working capital financing market with a potential value of $ 80 trillion per year had been released so far. Greensill Capital is the second player after Citi.
Market & # 39; exciting & # 39;
The London-based company, for which former British Prime Minister David Cameron has been working as an advisor since his departure from politics, has provided $ 85 billion in funding to 60 countries since its inception in 2011.
He has been most active in Europe and the United States. but it is believed that he recently provided a $ 1 billion line of credit to the local UGL mining engineer, helping his suppliers get paid faster and announcing more activity in Mr. Greensill's territory. .
"We consider the Australian market to be very exciting, it is not serviced by domestic banks and we have been welcomed as a new player in supply chain financing," Greensill said. by refusing to comment on any agreement.
The increase in Softbank has almost quadrupled the $ 338 million of equity capital so far backed by Greensill Capital, according to documents filed with the regulator of corporations. Farm Campaign Monitor in 2014 by US lenders led by Insight Venture Partners.
Perfect timing
Greensill Capital had already been valued at $ 2.3 billion after a $ 336 million investment from US venture capital firms General Atlantic last year, enough money to propel Mr. Greensill, 42, and his brother Peter, 37, on the Financial Review Rich List.
The son of a Bundaberg farmer family and, in 2011, a seasoned investment banker, Lex Greensill got the cash needed to found Greensill Capital by convincing Peter to grant him a larger share in the family's watermelon farm, in exchange for own funds. first start.
Greensill's timing was flawless, as regulation and risk aversion forced banks to leave the small business financing sector since this deal due to growing financial regulation. According to Brett Isenberg, customer manager at Octet, a local non-bank lender, this has increasingly attracted private investors.
"Unlike some of these fintechs who are playing the hard way, with dubious credit quality reserves, debtor financing as a debt is well known and low risk," said Isenberg.
"Well done, its gross profits are high – the good players in this space do not spend as much money as you see elsewhere, and the private equity appreciates that."
After raising more than $ 100 million from Westpac and Challenger last year, Octet is about to complete a private equity-financed acquisition that will expand overseas.
AVCAL Chief Executive Yasser El-Ansary confirmed that no Australian start-up company had nearly surpassed Greensill's latest fundraising feat.
"This is a shining example of the global standard for Australian entrepreneurship," he said.
"Any start-up company established here in Australia will be inspired by this story."
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