Source: bolttech

The facility will support bolttech’s future strategic growth initiatives, including market expansion and pursuing opportunities to strengthen its technology and product capabilities while enhancing operational flexibility.

Jonathan Yip, Managing Director, Innovation Banking, HSBC, said, “We are pleased to offer our venture debt solution to bolttech as they accelerate their growth journey. The bespoke facility structure provides the flexibility necessary for high-growth and innovative companies such as bolttech to capitalise on emerging trends and opportunities.”

Romaney O’Malley, Group CFO, bolttech, said: “With HSBC, we are partnering with a leading global bank for strategic financing opportunities that will support our growth, while extending our existing banking partnership. This facility reflects HSBC’s confidence in bolttech’s vision and growth trajectory, marking a partnership that will drive mutual value.”

The multi-year bespoke credit facility is structured to provide flexible utilisation, allowing bolttech to further capitalise on the rapidly growing global embedded insurance market. HSBC serves as the sole lender for the transaction.

HSBC has been providing strategic financing solutions, banking services and advisory support to emerging companies in new economy sectors such as tech and life science. Since May 2023, the Bank has also introduced venture debt as a complementary tool for investor-backed, growth stage businesses in the innovation economy.

Read the full article: https://bolttech.io/news/bolttech-and-hsbc-close-up-to-usd50-million-venture-debt-facility/