Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. SoftBank Group Corp.
  6. News
  7. Summary
    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

SoftBank : Fintech startup Clearco raises $215 million in SoftBank-led funding

07/08/2021 | 05:02am EDT

OAKLAND, Calif. (Reuters) - Clearco, a fintech company that offers capital to startups, said on Thursday it raised $215 million in an equity funding round led by SoftBank Group Corp's Vision Fund 2 as it accelerates its international expansion.

The company, based in New York, London and Toronto, was started in 2015 by Canadian entrepreneurs and investors Andrew D'Souza and Michele Romanow. Romanow, who is on Canadian reality TV show "Dragon's Den" where entrepreneurs pitch ideas for an investment, said she heard proposals again and again for funding for marketing and inventory.

"I remember talking to Andrew and I was like, why are founders using the most expensive capital in the world to do something that really has a fixed return?" said Romanow. 

The two came up with the idea of funding startups and being repaid with 1% to 20% of the revenue until they recuperate the entire investment, plus another 6% to 12% depending on where the money is spent.

So far they have provided $2.4 billion to 5,500 founders, said D'Souza.

E-commerce, mobile app and enterprise software companies with $10,000 or more in monthly revenue can apply for up to $10 million by just plugging all their financial accounts into Clearco's system which analyzes the data and suggests where to spend the money for the greatest benefit.

Clearco said this model has led it to fund eight times as many companies headed by female founders as traditional venture capital firms last year. About 13% of Clearco's funding went to companies headed by Black and Hispanic founders versus 2.6% for traditional venture capital firms.

The founders declined to talk about the latest valuation, but in April Clearco raised $100 million for a valuation of just under $2 billion.

(Reporting by Jane Lanhee Lee; Editing by Richard Chang)

By Jane Lanhee Lee


© Reuters 2021
All news about SOFTBANK GROUP CORP.
09/17VC DAILY : Question: What's Top of Mind for VCs as the Fourth Quarter Approaches..
DJ
09/17ARES MANAGEMENT : Makes $150 Million Preferred Equity Investment in Inter Miami
MT
09/17COUPANG : SoftBank Unit Sells About $1.69 Billion of South Korean Coupang Stake
MT
09/17SOFTBANK : Vision Fund sold 57 million Coupang shares for $1.69 billion
RE
09/17Japanese shares post 4th weekly gain on catch-up trade, chipmakers boost
RE
09/17SoftBank Group's Vision Fund Sells $1.69 Billion of Coupang Shares
DJ
09/17SOFTBANK : Vision Fund's sold Coupang shares for $1.69 bln - Nikkei
RE
09/16SOFTBANK : Boeing names new government operations chief
RE
09/16SOFTBANK : Adds New Managing Partners to Latin America Funds' Investment Team to..
BU
09/16SOFTBANK : Online retailer THG plans to spin off and list beauty business in 202..
RE
More news
Analyst Recommendations on SOFTBANK GROUP CORP.
More recommendations
Financials
Sales 2022 6 040 B 54 906 M 54 906 M
Net income 2022 1 310 B 11 906 M 11 906 M
Net Debt 2022 14 983 B 136 B 136 B
P/E ratio 2022 9,15x
Yield 2022 0,66%
Capitalization 11 411 B 104 B 104 B
EV / Sales 2022 4,37x
EV / Sales 2023 4,14x
Nbr of Employees 58 786
Free-Float 69,3%
Chart SOFTBANK GROUP CORP.
Duration : Period :
SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 6 661,00 JPY
Average target price 10 507,87 JPY
Spread / Average Target 57,8%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
SOFTBANK GROUP CORP.-17.34%103 843
AT&T INC.-4.28%196 560
T-MOBILE US-5.08%159 740
KDDI CORPORATION26.39%79 347
AMÉRICA MÓVIL, S.A.B. DE C.V.25.88%59 833
VODAFONE GROUP PLC-5.47%43 375