Mexico Unicorn Clip Raises $100 Million From Morgan Stanley [Yahoo! Finance Canada]
SOFTBANK GRP UNSP/ADR (SFTBY)
NASDAQ:AMEX Investor Relations:
softbank.jp/en/corp/irinfo/presentations
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The investment will be used to continue growing in its home market of Mexico, said Clip Founder and Chief Executive Officer Adolfo Babatz in an interview. The investment keeps the valuation in line with the Series D round, which valued the company at $2 billion. ADVERTISEMENT Clip did not disclose the specific terms of this latest raise, and declined to name the second investor who participated in the round but described it as “one of the largest, most experienced West Coast mutual fund managers.” The company, founded in 2012, provides payments solutions digitally and through point of sales devices. It also provides financial services, lending products, and software and APIs to the merchants it operates with. Its core area of payments represents more than 85% of the business and is currently profitable, Babatz said. “We intend to double down on some of these,” he said. “Depending on the stage the business is in, we either go deeper or we go broader.
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