SoftBank is the largest investor in fintech services
SoftBank is one of the largest technology corporations in Japan and investors in fintech services. It conducted an IPO of its own mobile operator. This public placement was a record-breaking in the history of the country and the second, based on the indicators on the planet. In this regard, the company lost only to Alibaba, which raised $25 billion in 2014.
SoftBank Corp is the third largest mobile provider of the Rising Sun Country, providing services to 34 million residents. Inside Japan, the brand is considered high-tech and quite budget. Retail depositors positively perceived the news about IPO, as they considered such an investment quite reliable, although the owner of the operator – billionaire Masayesi Son, often invests in fintech services of varying degrees of risk. In the 90s of the last century, the entrepreneur acquired shares of such giants as Alibaba and Yahoo!, which brought him a capital of $22 billion. The funds raised by SoftBank Corp for IPO will probably also are used to buy out emerging technology organizations and launch startups, including blockchain and fintech sectors.
How SoftBank invests in fintech services
In 2015, the corporation together with its partners acquired shares of online credit service for SoFi training totalling $1 billion. To date, this is the most serious money investment in fintech services in the history of the industry. In 2017, the Japanese giant believed in the American project of online lending to SMEs Kabbage, investing $250 million in it. At the same time SoftBank together with other telecommunication providers created an association to create a payment service on the blockchain. Rich Communication Services development should allow customers to pay for purchases via phone anywhere in the world without having cash or bank card with them. At the end of 2017 SoftBank acquired shares of Lemonade insurance project totaling $120 million. The company uses robots and AI to save a person from paperwork and speed up the filing of claims by landlords and tenants. In the spring of 2018, the company invested $400 million in Paytm payment system originally from India, in the summer – in the insurance project PolicyBazaar. In addition, the Japanese corporation shows great interest in blockchain. Thus, in December 2017, the subsidiary of the brand, SoftBank Technology, in partnership with the young Sivira project, reported on the development of blockchain technology for managing personal financial information. The ready system should be presented this year. Thanks to it, financial institutions will have safe access to the history of user payments for rent, information about the presence of valuable property. Thus, companies will speed up the scoring process.
In the spring of 2018 SoftBank China Capital together with Lanchi Venture Capital invested in Bite blockchain startup, which develops professional tools for market analysis by investors in cryptocurrency. At the end of the summer of 2018, the corporation invested in the marketing blockchain-project Atlas on the seed-round. The amount was $3 million. Startup offers to use a decentralized registry for targeting. Also in May 2018, the corporation together with Cloudminds developed a technology of identity confirmation via blockchain to enter protected sites without ID and password.