Japan's Softbank Doubles Down on Fin-tech with WireCard
Japan’s leading global investor, Softbank, has announced a $1 Billion investment pledge in Wirecard. Wirecard is a leading global payments platform and processor that focuses on merchants’ in-store and on-line payments processing needs. Wirecard is publicly traded and currently has a market cap of €17.18 billion. Wirecard provides card issuing, data analytics, risk management, and other related services that cover all aspects of payments. Major competitors to Wirecard include First Data, WorldPay, Stripe, and Worldline.
Softbank has a well-earned reputation for great contrarian bets on technology. This investment in a troubled fin-tech company Wirecard demonstrates the enduring attractiveness of the fin-tech sector. With US financial markets at all-time highs, bargain investments like Wirecard are difficult to find. Expect to see more M&A and investment activity in undervalued and sub-scale payment companies, including companies such as Global Payments, Synchrony Financial, and others.
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