Global insurance technology company bolttech secured a $50 million subprime credit facility from HSBC.
The funding is intended to support Bolttech’s market expansion, technological development and operational flexibility.
The multi-year credit facility is structured for flexible use, allowing Bolttech to explore opportunities in the integrated insurance market.
HSBC, Bolttech’s banking partner since 2019, has supported the company’s growth in over 14 countries through a range of banking and financial services.
The facility also fits into HSBC’s wider strategy to support growth-stage businesses in sectors such as technology and life sciences.
Since May 2023, the bank has offered venture debt as an additional financing option for investor-backed companies in the innovation economy.
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 needed for innovative, high-growth companies like Bolttech to capitalize on emerging trends and opportunities.
Romaney O’Malley, Chief Financial Officer of Bolttech Group, said:
“With HSBC, we are partnering with a leading global bank for strategic financing opportunities that will support our growth, while expanding our existing banking partnership.
This facility reflects HSBC’s confidence in Bolttech’s vision and growth trajectory, marking a partnership that will generate mutual value.
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