Japanese SoftBank invests close to US $20 million in Mexican fintech Clip
Source：Expansion
From：Taiwan Trade Center Mexico
Update Time：2019/06/29
The Japanese Group SoftBank invested about US $20 million in the emerging Mexican fintech company Clip early this year. SoftBank closed the agreement shortly before announcing in March that it would launch the US $5 billion “Innovation Fund” that will focus on Latin America.
The US $20 million investment in Clip is unusually small for a company that normally runs funding rounds at least four times that size. SoftBank is also famous for managing the largest technology fund in the world, with US $100,000 million in the capital.
But, unlike Asia and the USA, Latin America is a nascent technology market where new companies typically have lower valuations and face less competition, which means that even small injections of cash drive growth.
The Mexican fintech Clip, founded in 2012, offers a mobile credit and debit card reader that adapts to smartphones. Companies throughout Mexico, such as cafes, wineries and street vendors, have adopted the service as a simple and inexpensive way to accept cards instead of cash.
Source：
https://www.reuters.com/article/us-softbank-fund-mexico/japans-softbank-taps-into-mexican-fintech-startup-clip-sources-idUSKCN1SC1QL