British Greensill buys Colombian fintech Omni to expand in Latin America

The SoftBank-backed British provider of working capital aims to grow in Mexico and Brasil

17.Jun.2020 11:58 BRT

Omni has already provided $300 million in working capital to small and mid-sized businesses in Colombia and Chile;
Greensill operates globally, specializing in loans companies use to pay suppliers.

Greensill Capital, a U.K.-based global provider of working capital finance for companies, announced the acquisition of Colombian fintech Omni Latam. The SoftBank-backed British firm aims to grow more rapidly in Latin America through the deal, Bloomberg reported.

The companies did not disclose the value of the transaction deal, which according to Greensill will help it expand to regional big markets such as Brazil and Mexico.

Omni has already provided $300 million in working capital to small and mid-sized businesses in Colombia and Chile through its digital platform, while Greensill operates globally, specializing in loans companies use to pay suppliers.

“We realized Latin America requires very special skills, and yet at the same time the region has a very significant working-capital gap that we estimate to be on the order of $750 billion,” Greensill CEO, Lex Greensill, said in an interview with Bloomberg. “So we found a company, a team, a technology that is a perfect fit considering the values and the approach of the Greensill organization.”