Japan’s SoftBank Taps Into Mexican Fintech Startup Clip: Sources
Tuesday, May 7, 2019
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.