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The Simple Problem That Sank Greensill’s Complex Financial Empire
Article

The Simple Problem That Sank Greensill’s Complex Financial Empire


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Editorial Rating

8

Qualities

  • Overview
  • Background
  • Engaging

Recommendation

Greensill Capital’s story sounded too good to be true – and it was. Claiming its advanced technology could evaluate a business borrower’s future viability as a going concern, the firm ventured into uncharted lending territory. But it ended up crashing and burning. Journalists Lucca De Paoli and David Rocks report on this cautionary tale of a fintech pioneer’s meltdown and the ruins of its entanglements.

Take-Aways

  • Greensill Capital set out to make “finance fairer” for small enterprises.
  • The firm’s business rested on shaky ground.
  • An insurance cancellation set off Greensill Capital’s demise.

About the Authors

Lucca De Paoli and David Rocks are reporters at Bloomberg Businessweek.