Deals
SoftBank's Vision Fund Invests $560 Million in Auto1 Group
- Used-car sales portal is Son’s first investment in Germany
- Auto1 seeks to use cash to expand fintech loan venture
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SoftBank Group Corp.’s Vision Fund will invest 460 million euros ($560 million) in Auto1 Group GmbH, valuing the German used-car sales portal at about 2.9 billion euros.
Auto1 will use the funds to introduce its service that helps private car owners sell their vehicles in new countries, expand a fintech venture that provides car dealerships with loans, and give its software to more auto dealers and even car manufacturers, co-Chief Executive Officer Hakan Koc said in an interview Monday.