Despite recent challenges with accounting issues in its Asian arm German payments company Wirecard has received a $1 billion funding commitment from SoftBank; the investment will be in the form of a five-year convertible bond with the option to turn that into Wirecard shares which would give SoftBank a stake of 5.6% in one of Europe’s most valuable fintech companies; the company did not disclose the interest rate on the bond; the two companies have also signed a memorandum of understanding that will help Wirecard extend its reach in Asia in the digital payments space. Source.
