Clicky
Business

Japanese SoftBank injects $250m in bKash


Published : 04 Jan 2022 08:23 PM

Japanese SoftBank Vision Fund II has injected around $250 million, equivalent to Tk 2,150 crore, in bKash Limited, the first unicorn in Bangla­desh, to acquire 20 percent stakes.

“I am glad to have acted as a co-counsel for bKash Limited in this landmark deal, the largest ever in the fintech sector in Bangladesh,” said Asif Hasan, a barrister at Tanjib Alam and Associates, on his LinkedIn page on Monday.

Earlier in November 2021, SoftBank announced that it would buy 20 percent stakes in bKash, which is Bangladesh’s largest mobile financial services (MFS) provider. SoftBank valued bKash a $2 billion company and it made the MFS a unicorn, which is the term used in the venture capital industry to describe a startup company with a value of over $1 billion.The SoftBank Vision Fund is a venture capital fund founded in 2017. SoftBank raised the size of Vision Fund 2 to $30 billion, up from $20 billion.