SoftBank to invest €900 million in Wirecard for fuelling digital payments

Markus Braun, CEO, Wirecard

Wirecard AG and SoftBank Group Corp., have entered into an agreement under which a SoftBank affiliate shall invest €900 million in Wirecard via a convertible bond mechanism.

The parties, along with the investment term, have signed a memorandum of understanding (MoU) on a strategic partnership for digital payments solutions. This MoU will allow SoftBank to provide support for Wirecard’s planned Asian expansion and will facilitate Wirecard with opportunities for collaboration within SoftBank’s digital payments and AI portfolios.

Markus Braun, CEO at Wirecard, commented, “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.”

According to the supplier, the partnership is expected to enable both parties to jointly explore new products, portfolios and novel financing solutions.

Established in 1981, SoftBank Group Corp. is a Japanese multinational holding conglomerate headquartered in Tokyo, Japan.

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