bolttech, a fast-growing global InsurTech company, has closed a $50m venture debt facility with HSBC, the company announces in a statement.
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.
Mr Jonathan Yip, managing director of Innovation Banking, HSBC, said, “The bespoke facility structure provides the flexibility necessary for high-growth and innovative companies such as bolttech to capitalise on emerging trends and opportunities.”
Ms Romaney O’Malley, group CFO, bolttech, said: “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.
bolttech is a global InsurTech with a mission to build the world’s leading, technology-enabled ecosystem for protection and insurance. bolttech serves customers in over 35 markets across North America, Asia, Europe, and Africa.