SoftBank tapped its Innovation Fund to invest about $20m in the card reader developer as part of a $100m round that valued it at up to $400m.
Mexico-based mobile credit card reader maker Clip has secured about $100m in a funding round featuring telecommunications and internet group SoftBank, Reuters reported on Monday.
SoftBank Innovation Fund, the $5bn Latin America-focused vehicle recently launched by the corporate, committed approximately $20m to the round, three sources familiar with the matter told Reuters.
Growth equity firm General Atlantic also participated in the round, which valued the company at between $350m and $400m, two of the sources said.
Founded in 2012,…
