Watchdog: 'No evidence' Greensill supply-chain finance had any benefit

Report comes after company's collapse in March 2021

Elliot Gulliver-Needham
clock • 2 min read
Watchdog: “No evidence” Greensill supply-chain finance had any benefit

Watchdog: “No evidence” Greensill supply-chain finance had any benefit

A new report from the National Audit Office has found “no evidence” that the predicted benefits and savings from Greensill Capital’s supply-chain finance scheme for pharmacies were realised.

The report comes following an investigation into Greensill Capital, which once claimed to be the UK's most valuable financial technology company, that began after its collapse in March. It analyses two schemes provided by the company, supply-chain financing for pharmacies and a salary advance scheme for NHS employees, finding that both schemes failed to provide any benefits. The news came after the founder claimed before the Treasury Select Committee in May that the company had "saved the taxpayer over £100m a year". The company was founded by Lex Greensill, who served as an advisor t...

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