From the paddock to the rich Australian list: how three brothers turned their parents' humble sugar cane farm into a global company of $ 1.3 billion
- Lex, Peter and Andrew Greensill, from Bundaberg, are in 75th place on the AFR richlist
- As boys, they grew up with their parents' sugar cane and sweet potato farm
- Lex Greensill founded Greensill in 2011 in London, now worth $ 1.3 billion
Three farmers from Queensland made it to the rich list after setting up a company that is now valued at $ 1.3 billion.
Lex, Peter and Andrew Greensill, from Bundaberg, are in 75th place AFR richlist, which will be fully released on Friday.
They grew up with their parents' sugar cane and sweet potato farm before they took the financial world by storm.
Lex Greensill (left) with his mother Judy, brother Andrew and father Lloyd
In 2017, Greensill (pictured with Prince Charles) was appointed Commander of the British Empire for services to the economy in the Honors list of Queen's Day
Former Morgan Stanley and Citigroup banker Lex founded Greensill in 2011 in London.
The company specializes in providing access to working capital financing for small and medium-sized businesses to perform their daily activities.
This means offering early payment to cover money that must be paid by larger companies and government agencies.
The digital financing company charges companies that request an early payment a fee of approximately 1 percent of the amount provided.
Greensill is then fully paid by the supplier's customers when the invoices are paid.
Lex & # 39; s brothers, who live in Bundaberg and run the family farm, invested profits from the farm in Greensill in his early years.
Lex Greensill (photo) grew up on a sugar cane farm in Bundaberg and saw firsthand the impact caused by late payments by retailers
Last year, US private equity firm General Atlantic Partners donated £ 189 million to Greensill, which is based in Covent Garden, central London, as part of a deal that valued the company at around £ 1.3 billion.
As a result of that deal, Greensill has joined the & # 39; unicorn & # 39; technology companies – private companies worth £ 1 billion or more.
Since then, Greensill has continued to grow and now has around eight million customers around the world.
The final investment round will be used to finance the company's expansion plans in China, India and Brazil.
Lex Greensill grew up in a sugar cane farm in Bundaberg and saw firsthand the impact of late payments by retailers because his parents could not pay to send him to college.
He resorted to law school at the evening school and got his first job at a local law firm.
Greensill specializes in providing access to working capital financing for small and medium-sized businesses to perform their daily activities
Greensill arrived at Morgan Stanley in London after obtaining an MBA from the business school in Manchester.
In 2017, Greensill was appointed commander of the British Empire for services to the economy in the list of the Queen's birthday ceremony.
Last year he told the Australian Financial Review that he & # 39; is still a farmer at heart & # 39 ;.
& # 39; Bundaberg is my home. It's where I came from and I visited there about eight times with my wife last year, & he said.
& # 39; I am a farmer at heart. When I get home I jump on a tractor and play. I don't see myself as a company property. & # 39;
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