MODIFI secures $100m debt facility with HSBC Innovation Banking UK
By Delisha Fernandes
MODIFI, a global cross-border business payments company, has secured a $100 million debt facility with HSBC Innovation Banking UK to further growth.
MODIFI helps exporters and importers to facilitate their business internationally. Through its digital platform, the company enables suppliers to receive instant payments while offering buyers the option to defer payments for up to 180 days.
Nelson Holzner, CEO and Co-Founder of MODIFI, said, “We are excited to partner with a top-notch financial institution like HSBC Innovation Banking to meet the growing demand of our customers for higher liquidity.”
HSBC Innovation Banking UK offers flexible banking solutions for start-ups, scale-ups, growth businesses, investors and those working towards IPO. The partnership with HSBC Innovation Banking is a key component of MODIFI’s refinancing strategy, aimed at diversifying its funding sources with capital providers. MODIFI recently closed $75 million debt facility with another global financial institution.
“There is a growing need for innovative solutions that remove barriers, increase transparency and enable small and midsize businesses to trade on a par with larger corporates. We are incredibly excited at HSBC Innovation Banking to support MODIFI as it continues to become a leading provider of trade finance products,” said Conor Sheehy, Head of FinTech Warehouse Finance at HSBC Innovation Banking.
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