Global insurtech company bolttech has secured a US$50 million venture debt facility from HSBC.
The funding is intended to support bolttech’s market expansion, technology development, and operational flexibility.
The multi-year credit facility is structured for flexible utilisation, enabling bolttech to explore opportunities in the embedded insurance market.
HSBC, a banking partner to bolttech since 2019, has supported the company’s growth across more than 14 countries through a range of banking and financing services.
The facility also aligns with HSBC’s broader strategy of supporting growth-stage companies 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 businesses 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 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.”
Featured image credit: Edited from Freepik
