Greensill

Greensill Capital was a global financial services firm that provided supply chain finance, working capital finance, and treasury solutions. The company operated as an alternative lender, leveraging technology to offer structured trade finance solutions designed to help companies manage cash flow, payments, and trade receivables.

The firm’s business model relied heavily on the securitisation of trade receivables, which it marketed as low-risk investment grade assets to institutional investors. However, the company collapsed into administration in 2021 amid widespread allegations of misrepresenting the value and existence of these underlying assets, including the use of fraudulent invoices and data to inflate financing capacity. This discrepancy between the reported quality of the securitised receivables and the actual underlying business risk became the primary focal point of its financial failure.