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VC Deals: SoftBank Returns To Backing UK FinTech

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Includes: AIRB, HPE, PYPL, QCOM, SFTBF, SFTBY, TCEHY, TCTZF
by: VCDeals

Welcome to Seeking Alpha’s Venture Capital Deals of the Week. Follow this account and turn on the e-mail alert to receive VCDeals in your inbox on Friday afternoons.

  • SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) Vision Fund invested $655M into Greensill, a UK-based provider of working capital and supply chain financing. The investment comes five months after the Vision Fund made an $800M infusion into Greensill. The startup says it will use the new funds to accelerate the global expansion, develop new products, and towards strategic acquisitions. This year, Greensil says it has provided $150B in financing to more than 8M suppliers and customers across more than 165 countries.
  • Tencent (OTCPK:TCEHY,OTCPK:TCTZF) led the $111M Series A for Indian video playback and streaming app MX Player at a $500M valuation. Times Internet, which acquired a majority stake in the startup in late 2017, also participated. MX Player will use the money to produce more original TV shows and expand its licensed content catalog. The company currently has 175M MAUs in India alone and more than 280M globally.
  • PayPal Ventures (NASDAQ:PYPL) participated in the $83M round for Japanese instant-credit provider Paidy. Despite a high credit card penetration rate in the region, customers in Japan don’t like using the cards to make online purchases. Paidy covers the cost of the items and then bills the shopper monthly. The new funding will help Paidy sign larger merchants, offer new financial services, and achieve the goal of 11M accounts by the end of next year.
  • Airbnb (AIRB) led and HPE Growth (NYSE:HPE) joined the $60M Series C for museum ticket booking platform Tiqets. The Amsterdam-based startup says it has sold millions of tickets in more than 60 countries and plans to use the investment to expand its platform. Airbnb’s participation is currently financial, not strategic, and the companies haven’t worked together.
  • Qualcomm Ventures (NASDAQ:QCOM) participated in the $40M Series C for Particle, a platform for IoT devices. Particle, which offers an end-to-end solution for device deployments including software and hardware, has now raised $81M. The company says its revenue increased 150% Y/Y and counts SpaceX, MIT, and NASA as its current customers, among 8,500 others.

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