The financing will support bolttech’s strategic growth initiatives, including market expansion, enhanced technology and product capabilities, and increased operational flexibility.

Jonathan Yip, Managing Director of Innovation Banking at HSBC, emphasised the importance of the tailored facility in enabling high-growth companies like bolttech to seize emerging opportunities. “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,” said Yip.

Romaney O’Malley, Group CFO of bolttech, highlighted the strategic value of the partnership with HSBC. “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,” O’Malley stated.

Since 2019, HSBC has played a pivotal role in bolttech’s growth, providing comprehensive banking and financing services across more than 14 countries. The latest multi-year credit facility is designed to offer flexible utilisation, empowering bolttech to further tap into the rapidly expanding global embedded insurance market. HSBC serves as the sole lender for this transaction.

HSBC’s venture debt offering, introduced in May 2023, is part of its broader strategy to support investor-backed growth-stage businesses in the innovation economy, spanning sectors such as technology and life sciences. The financing complements HSBC’s suite of strategic banking services tailored to companies driving new economic paradigms.

With this latest venture debt facility, bolttech is poised to advance its ambitious plans for growth and innovation in the dynamic insurtech space.

Join Bolttech at Insurtech Insights Asia 2024 in Hong Kong

Join the Bolttech team at Insurtech Insights Asia 2024 on December 4th to 5th at The Kerry Hotel, Hong Kong. Bolttech has been confirmed as a sponsor for the Asia event, which will bring together over 5000 insurance leaders, entrepreneurs, investors and policymakers from 50+ countries, with over 65% of attendees expected to be decision makers. 

For more information, visit here: ITI Asia 2024