Another day, another SoftBank startup investment.
The highly active Japanese firm with $100bn of its Vision Fund to spend is backing Auto1, a Berlin-based online marketplace for buying and selling cars, according to the Financial Times.
It is investing €460m in the five-year-old startup, one of the most highly valued in Europe at more than €2bn and already backed by Baillie Gifford, DST Global and Princevile Global.
Read more: Deliveroo's heading for unicorn territory with SoftBank investment talks
Both SoftBank and Auto1 have been contacted for comment.
SoftBank's Vision Fund - the largest ever focused on tech - was created by boss Masayoshi Son, who has outlined his ambitions to become the Warren Buffett of tech. Based in London but investing globally, it is backed by the likes of Apple, Qualcomm and Saudi Arabia's sovereign wealth fund.
SoftBank has recently taken a stake in Uber, billion dollar messaging platform Slack and office space startup WeWork. In the UK it has backed virtual development platform Improbable.
Auto1 operates in 30 countries across Europe and partners with 35,000 dealers, selling tens of thousands of cars each month.
Read more: It's official: SoftBank's raised $93bn for its massive new investment fund
Bagikan Berita Ini
0 Response to "SoftBank is backing one of Europe's most valuable startups"
Post a Comment