Lex and Vicky Greensill after Prince Charles made the billionaire a Master of the British Empire.
Lex and Vicky Greensill after Prince Charles made the billionaire a Master of the British Empire.

FINANCIAL UNICORN: Former Bundy man banks a billion

A BUNDABERG born businessman, who came from humble roots as a sugar cane and sweet potato farmer, is now an international corporate giant.

Lex Greensill is set to reach over $1 billion-plus through his company, Greensill, and has been named Australia's newest financial unicorn - according to an article by The Australian Financial Review (AFR).

The Greensill company is a major international provider for supply chain finance and working capital, and are also the owners of Greensill Bank. The company, founded in 2011, is now valued at $US1.64 billion, after a $366 million investment by growth equity firm General Atlantic.

Mr Greensill told The Australian Financial Review he is proud of the accomplishments the business has made.

"The firm is still substantially owned by myself and the staff and I'm very proud of that," Mr Greensill said.

"Dozens and dozens of our employees have become millionaires on the back of this.

"We weren't looking to raise at all. General Atlantic approached us and the strength of their experience in multiple markets where we're looking to grow, combined with the capital and expertise, made it worthwhile. But there are no plans to raise again or do an initial public offering."

In February, the home-grown business tycoon was named a Commander of the Order of the British Empire by Prince Charles at Buckingham Palace for services to the British economy.

The AFR said Mr Greensill and his brother Peter - who still runs and operates the family sugar and sweet potato farm in Bundaberg, and sits on the board of Greensill - are now "collectively billionaires".

Mr Greensill told the AFR he started his business after he became "frustrated with the big banks' inability to adopt new technologies quickly".

The profitable company is now experiencing a growth of 300 per cent per year, and has this year provided more than $3 billion in working capital to businesses.

Despite the success, Mr Greensill says he is still a "farmer at heart", and visits Bundaberg and his family often.

"I'm a farmer at heart. I don't think of myself as a corporate titan," he told the AFR.



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