1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. SoftBank Group Corp.
  6. News
  7. Summary
    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
Delayed Japan Exchange  -  05/24 02:00:00 am EDT
5191.00 JPY   -1.61%
12:04pMexico's Nowports gains unicorn status after SoftBank-led funding round
RE
06:41aIndian shares fall for second straight day as IT stocks drag
RE
02:11aIndian shares reverse early gains as IT stocks drag; Delhivery rises on debut
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Creditas announces USD 260 mln financing round

01/25/2022 | 07:41am EDT

Creditas, Latin America’s leading digital secured lending platform and financial solutions ecosystem, announced the closing of its USD 260 mln Series F financing round. The round brings Fidelity Management & Research LLC as a new key shareholders for Creditas. Other new investors participating in the round include Actyus and Greentrail capital beside a broad participation from the existing investor base including QED, VEF, Softbank, Kaszek, Lightrock, Wellington and Advent.

As communicated in our press release from December 22, 2021, VEF’s USD 25 mln participation in the round was made in the form of a short-term convertible loan note, which converted into equity in this round.

Creditas has raised a total of USD 829 mln over six financing rounds of which VEF has participated in the last four, having first led their Series C in 2018. VEF has invested a total of USD 98.5 mln into Creditas, and with this round closed, the value of VEFs stake in Creditas is USD 394 mln. The positive NAV impact of this financing round is USD 200 mln compared to the latest reported NAV in 3Q21. Creditas is VEF’s largest portfolio holding, representing c. 50% of VEF’s NAV following this round.

Sergio Furio, founder and CEO of Creditas comments:

The new capital raised will allow us to accelerate the strategy in our 3 ecosystems: Home Solutions, Auto Solutions and Employee Benefits. We will continue expanding operations in all our verticals to deliver an increasingly complete platform including fintech products, insurance and marketplace solutions. This is consolidating Creditas as a one-stop solution for those seeking a digital-first experience in everything related to your house, car, motorcycle and salary-based benefits.

We have significant growth ahead in multiple avenues including financial solutions for our innovative marketplaces Creditas Auto (car marketplace), Creditas Store (ecommerce platform with payroll-deductible buy-now-pay-later model) and Voltz (the largest manufacturer of electric motorcycles in Brazil). Beyond Brazil, we are now accelerating the growth in Mexico, a market that after 18 months of operation has proven to be a strategic engine for growth. Creditas can become a true disruptor in the Mexican market being able to provide democratize access to financial products and consumer solutions alike. Valencia, in Spain, continues growing as one of our innovation hubs, growing more than three times since the Series-D round and significantly contributing to the technology and innovation development of our products

Since 2012 Creditas has been adapting itself to a changing environment, technologies and consumer demands. As we continue accelerating growth, our dream of improving the lives of millions of consumers and allowing them to grow together with us is becoming a reality.

VEF CEO, Dave Nangle comments:

“Creditas is one of those special fintech assets given its ability to marry supernatural growth with high revenue economics into an ever growing TAM. The company continues to deliver exceptional growth as showcased in its quarterly reporting of headline figures, with Q321 loan book growth of 2.8x, new origination growth of 4.1x and revenues of 3.3x (all YoY). We continue to back Sergio and his team harder and see shareholders like Fidelity and Wellington in the cap table as reinforcement of our thesis that Creditas is a successful listed company in the making.”

 

© Modular Finance, source Nordic Press Releases

All news about SOFTBANK GROUP CORP.
12:04pMexico's Nowports gains unicorn status after SoftBank-led funding round
RE
06:41aIndian shares fall for second straight day as IT stocks drag
RE
02:11aIndian shares reverse early gains as IT stocks drag; Delhivery rises on debut
RE
12:54aSoftBank-backed logistics firm Delhivery valued at $4.9 bln in India debut
RE
05/23Didi Shareholders Approve NYSE Delisting
MT
05/23MASAYOSHI SON : India's Modi, Softbank's Son discuss more investments after big tech bets
RE
05/22SoftBank's Arm to Lay Off 10% of UK Staff Ahead of IPO
MT
05/22Didi Shareholders Expected to Vote in Favor of NYSE Delisting
MT
05/20Gardant teams up with AMCO in race for BPER's NPL unit-sources
RE
05/20Japanese shares end higher on bargain-hunting; post weekly gains
RE
More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 171 B 48 307 M 48 307 M
Net income 2022 728 B 5 697 M 5 697 M
Net Debt 2022 16 223 B 127 B 127 B
P/E ratio 2022 12,0x
Yield 2022 0,85%
Capitalization 8 465 B 66 264 M 66 264 M
EV / Sales 2022 4,00x
EV / Sales 2023 4,18x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Last Close Price 5 191,00 JPY
Average target price 7 896,47 JPY
Spread / Average Target 52,1%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Yutaka Matsuo Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-2.91%67 350
T-MOBILE US11.99%162 828
AT&T INC.11.64%148 475
KDDI CORPORATION35.28%78 438
AMÉRICA MÓVIL, S.A.B. DE C.V.-1.57%69 003
VODAFONE GROUP PLC12.33%44 636