Global insurtech company bolt tech secured a US$50 million venture debt facility from HSBC.
The funding is intended to support Volttech’s market expansion, technology development and operational flexibility.
The multi-year credit facility is structured to provide flexibility and enable Volttech to explore opportunities in the embedded insurance market.
HSBC, Volttech’s banking partner since 2019, has supported the company’s growth in more than 14 countries through a range of banking and financial services.
The facility also aligns with HSBC’s broader strategy to support growth-stage companies in sectors such as technology and life sciences.
Since May 2023, the bank has been offering venture debt as an additional financing option for investor-backed businesses in the innovation economy.
Jonathan Yip, Managing Director of Innovation Banking at HSBC, said:
“We are pleased to offer our venture debt solutions to Volttech as it accelerates its growth.
The bespoke facility structure provides the flexibility a high-growth, innovative company like Volttech needs to take advantage of new trends and opportunities. ”
Romanée O’Malley, Group CFO, Volttech, said:
“At HSBC, we are partnering with some of the world’s leading banks for strategic financing opportunities to support our growth, while extending our existing banking partnerships.
This facility reflects HSBC’s confidence in Volttec’s vision and growth trajectory and demonstrates a partnership that drives mutual value. ”
Featured image credit: Edited from freepic
