Payment processing platform Wirecard has secured a €900m investment from SoftBank, as they enter a strategic partnership to expand in the East Asian markets.
SoftBank has made the investment through a convertible bond mechanism, which will see Wirecard issue bonds at €130 per share.
Both parties have also signed a memorandum of understanding for a strategic partnership based on expanding their capabilities in digital payment solutions.
SoftBank will now seek to support Wirecard’s expansion into the Japanse and South Korean markets. The pair also plan to collaborate with SoftBank Group’s portfolio in digital payments, data-analytics/AI and other digital financial services.
It is expected that the partnership will lead to the joint exploration of new product and services in digital lending.
Wirecard CEO Markus Braun said, “As global innovators, we focus heavily on expanding our networks and creating opportunities for companies with groundbreaking ideas.
“In SoftBank we have found a partner that shares both our passion for new technologies and drive to spearhead the latest innovations, all on a global scale.
“In addition, through this potential partnership, we will expand our reach and products to the East Asian markets, thereby further strengthening our position in Asia.”
Founded in 1999, Wirecard builds software to help businesses accept online, offline and mobile payments. Its products, which are used across the retail, services, and banking industries, not only help with processing various payment types but can help protect businesses from fraud via risk management support.
Last year, the company partnered with Crédit Agricole Payment Services, to develop new e-commerce payment solutions.
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