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Irish fintech Nomupay gets $40 mln investment from SoftBank

Economic Times

Economic Times · 1m ago

Irish fintech Nomupay gets $40 mln investment from SoftBank

Irish fintech Nomupay secured a $40 million investment from SoftBank, raising its valuation to $290 million to support expansion in Asia, including Japan. Established in 2021, Nomupay acquired licenses from Wirecard after the latter's collapse in a fraud scandal. With a focus on local and cross-border payments, rivaling firms like Stripe and Adyen, Nomupay aims for profitability by year’s end. This adds to its total fundraising of $120 million.

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SoftBank to invest $514 million for 51% stake in Cubic Telecom

Economic Times

Economic Times · 1y ago

SoftBank to invest $514 million for 51% stake in Cubic Telecom

SoftBank is set to invest $514 million for a 51% stake in Cubic Telecom, an Irish connectivity management software provider for the automotive industry. The investment will help Cubic Telecom expand its reach in the global automotive market and accelerate its growth. This move demonstrates SoftBank's continued focus on investing in companies that leverage technology to transform industries.

SoftBank fully exits Policybazaar parent fetching $650 million in returns

Economic Times

Economic Times · 1y ago

SoftBank fully exits Policybazaar parent fetching $650 million in returns

Japanese technology investor SoftBank has made a full exit from PB Fintech, the parent company of insurance marketplace PolicyBazaar. SoftBank had invested close to $200 million in PB Fintech and sold its remaining stake for about $109 million, making a total of $650 million in returns on its investment. This is part of SoftBank's strategy of diluting its holdings through public market deals. SoftBank has invested $15 billion in India so far and has funded nearly a fifth of the country's unicorns.

OpenAI's Altman to stop in Abu Dhabi for MGX fundraising talks

VCCircle

VCCircle · 5m ago

OpenAI's Altman to stop in Abu Dhabi for MGX fundraising talks

OpenAI CEO Sam Altman is visiting Abu Dhabi to discuss fundraising talks with investment group MGX. This move follows a busy Asia tour where Altman announced a partnership with Japan's SoftBank. OpenAI's initiative aims to strengthen its AI capabilities amid competition from China's DeepSeek. MGX previously participated in a $6.6 billion OpenAI funding round. Meanwhile, SoftBank is considering leading a significant $40 billion investment in OpenAI, highlighting the competitive AI landscape globally.

SoftBank fully exits Paytm at higher-than-expected net loss of $264.8 Million

YourStory

YourStory · 7m ago

SoftBank fully exits Paytm at higher-than-expected net loss of $264.8 Million

SoftBank Group has finalized its exit from Indian fintech company Paytm by selling its Singapore subsidiary's stake in PayPay Corporation to a SoftBank Vision Fund 2 entity for $279.2 million. This transaction severs all investment ties between SoftBank Group and Paytm. SoftBank had already sold its direct stake in Paytm earlier in 2024, incurring a loss of $544 million. The sale of PayPay stake in Paytm was projected to fetch proceeds of $390-450 million, but the lower sale price results in a final net loss of $264.8 million for SoftBank.

SoftBank Again Offloads Stake In Paytm, Sells 1.37 Cr Shares

Inc42 · 1y ago

SoftBank Again Offloads Stake In Paytm, Sells 1.37 Cr Shares

Japanese tech conglomerate SoftBank has sold over 2% stake in fintech giant Paytm through open market transactions. Between January 23 and February 26, SoftBank sold 1.37 crore shares, reducing its stake in Paytm from 5.01% to 2.83%. This is the second stake reduction by SoftBank in Paytm this year, following a 2% stake sale in January. SoftBank has been steadily reducing its stake in Paytm as well as other listed companies in its portfolio. The fair value of SoftBank's India investment portfolio stood at nearly $14 billion as of December 2023.

SoftBank Sitting On Gross Gains Worth $285 Mn From Delhivery

Inc42 · 11m ago

SoftBank Sitting On Gross Gains Worth $285 Mn From Delhivery

SoftBank Vision Fund 1 has invested $392 million in a logistics startup and has seen gross returns of $682 million so far. However, it has also reported a gross loss of $544 million from its $1.6 billion investment in Paytm, a troubled fintech major. SoftBank has invested a total of $10.6 billion in various Indian startups over the years and has exited with gains of around $6 billion to $6.8 billion.

Saudi VC firm RAED Ventures gets another LP for third fund

VCCircle

VCCircle · 7m ago

Saudi VC firm RAED Ventures gets another LP for third fund

Saudi venture capital firm RAED Ventures has gained a new limited partner for its third fund, with an investment commitment from Saudi Venture Capital (SVC). RAED Ventures supports early-stage startups and currently manages a portfolio of over 40 companies. The addition of SVC as a limited partner will provide further financial backing for the firm's investment activities.

SoftBank Vision Fund top boss Rajeev Misra to step down

Economic Times

Economic Times · 8m ago

SoftBank Vision Fund top boss Rajeev Misra to step down

Rajeev Misra, the top Indian dealmaker at SoftBank, is stepping down from his leadership roles at the Japanese fund's flagship investment vehicles. Alex Clavel will become the sole CEO of SoftBank Investment Advisers and SoftBank Global Advisers. Misra will no longer have any operational or management role at SoftBank. This transition comes after Misra's decision in August 2022 to step back from his roles as CEO and executive vice president of SoftBank Group. He has since founded One Investment Management with a $7 billion corpus.

SoftBank posts profit in FY24 as global bets offset headwinds from Indian bets

YourStory

YourStory · 2m ago

SoftBank posts profit in FY24 as global bets offset headwinds from Indian bets

SoftBank Group Corp reported a profit of 517.18 billion yen ($3.49 billion) for fiscal year ending March 2025, driven by gains from its Vision Fund I investments despite setbacks from Indian ventures like Swiggy, Ola Electric, and OYO. Although Vision Fund II faced challenges, SoftBank made significant exits from companies like DoorDash. Despite struggling Indian investments, SoftBank is focusing on AI, leading a $40 billion funding round for ChatGPT-maker OpenAI, highlighting its strategic shift.

OpenAI close to finalising its $40 billion SoftBank-led funding

Economic Times

Economic Times · 3m ago

OpenAI close to finalising its $40 billion SoftBank-led funding

OpenAI is nearing a $40 billion funding round led by SoftBank Group, involving investors like Magnetar Capital, Coatue Management, Founders Fund, and Altimeter Capital. Magnetar may contribute up to $1 billion. If completed, it will be the largest funding round ever, valuing OpenAI at $300 billion. SoftBank plans an initial $7.5 billion investment and a later $22.5 billion, with other syndicates contributing $2.5 billion and $7.5 billion, respectively.

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