The company was valued at £3.5bn at its most recent funding round, in October 2019, while it was reported only last month to be seeking a valuation of $7bn at its next fundraising exercise. Greensill Collapse Exposes Gap at Heart of Its Technology Claims. March 20, 2021, 1:00 AM EDT LISTEN TO ARTICLE. Why Did Greensill Fail. By . Company’s technology capabilities were limited. Greensill was one of over a hundred invoice finance companies that were involved in the UK receivables financing market. Lucca De Paoli. The FCA said this week it was investigating "potentially criminal" incidents linked to the collapse. “I bear complete responsibility for the collapse of Greensill Capital,” Mr. Greensill said, adding that he was “desperately saddened” that more than 1,000 of his employees had lost their jobs. Greensill’s collapse caused shockwaves among its customers, with worries that some could fail, putting thousands of jobs on the line. Australian financier Lex Greensill’s financial empire has collapsed just a year after seeking a $7bn valuation. The demise of Greensill Capital has sparked arguably one of the biggest political crises in a decade. Squirm, DC David Cameron denies any role in the collapse of Greensill Capital. The former British prime minister declined to say even what he was paid for … Mr Cameron could also face questions about the collapse of Greensill earlier this year. Questions have been asked about Greensill's business practices and the level of risk it took in the run up to its collapse. Mr Greensill, who in the early 2010s worked as an unpaid adviser to Mr Cameron in Downing Street, told the Treasury Committee he bore "full responsibility" for the collapse of the company. David Cameron’s Payday Preceded Greensill Capital’s Collapse The former U.K. prime minister made several million dollars as an adviser to Greensill. Greensill's collapse marks a spectacular fall from grace for a business that had described itself as one of the UK's leading financial technology businesses. Greensill's collapse caused shockwaves among its customers, with worries that some could fail, putting thousands of jobs on the line. The collapse of Lex Greensill’s business empire has left a messy international trail across several countries, including the UK, Germany, Switzerland and Australia. Their recent failure has provoked a scandal over government lobbying and the far-reaching impact of the financial failure. Britain's former prime minister and current chancellor have both been dragged into probes over ethics and possible impropriety after it emerged that Greensill — until weeks ago a little-known firm working in a sleepy corner of finance — had access to the heart of Downing Street and the NHS. Founder Lex Greensill was forced to deny he was a fraudster when questioned by MPs earlier this week. 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