Bolttech, a fast-growing global InsurTech company, has successfully secured a $50m venture debt facility from HSBC.
The financing will support Bolttech’s strategic growth, allowing the company to expand its market presence, enhance its technology and product capabilities, and increase its operational flexibility, according to InsurTech Insights.
The $50m facility comes from HSBC, which has provided the funding as a tailored venture debt solution designed to meet the needs of high-growth companies. Jonathan Yip, Managing Director of Innovation Banking at HSBC, stated, “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 innovative companies to capitalise on trends and opportunities.”
Bolttech’s core business focuses on providing embedded insurance solutions across a wide range of industries. With operations in more than 14 countries, the company connects insurers, distribution partners, and consumers through its tech-driven platform, helping to enhance the accessibility and efficiency of insurance offerings.
As part of its strategic growth, the company plans to further expand into new markets and increase its service offerings through technological innovation.
The new funding will allow Bolttech to continue its aggressive expansion and innovation plans, with an emphasis on driving product development and entering new markets.
Romaney O’Malley, Group CFO of Bolttech, commented on the partnership with HSBC, saying, “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. The facility reflects HSBC’s confidence in bolttech’s vision and growth trajectory, marking a partnership that will drive mutual value.”
This marks the latest in a series of investments in Bolttech, which has seen HSBC involved with the company since 2019, providing banking and financing services across multiple regions.
With this new financing, Bolttech is well-positioned to continue its expansion in the rapidly growing global embedded insurance market, further solidifying its role as a leader in the InsurTech space.
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