Tuesday
May 7
2019

Japan’s SoftBank Taps Into Mexican Fintech Startup Clip: Sources

By Daina Beth Solomon, Heather Somerville

Japan’s SoftBank Group invested about $20 million in Mexican payments startup Clip early this year, one of its first Latin America deals as it launches a $5 billion technology fund in the region, said three people familiar with the matter.

The technology conglomerate’s cash injection was part of a round that raised roughly $100 million, two of the people said last week.

Clip’s valuation after the transaction rose to between $350 million and $400 million, the two sources said. Clip’s total funding to date is roughly $160 million.

Photo courtesy of MIKI Yoshihito.

Source: Reuters (link opens in a new window)

Categories
Finance, Technology
Tags
banks, digital payments, emerging markets, fintech, startups