SoftBank to Invest $1 Billion in Payments Firm Wirecard

Despite recent challenges with accounting issues in its Asian arm German payments company Wirecard has received a $1 billion funding commitment from SoftBank; the investment will be in the form of a five-year convertible bond with the option to turn that into Wirecard shares which would give SoftBank a stake of 5.6% in one of Europe’s most valuable fintech companies; the company did not disclose the interest rate on the bond; the two companies have also signed a memorandum of understanding that will help Wirecard extend its reach in Asia in the digital payments space. Source.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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