SINGAPORE and LONDON, July 18, 2023 /PRNewswire/ — MODIFI, the global cross-border business payments company, has secured a $100 million debt facility with HSBC Innovation Banking UK to further growth.
HSBC Innovation Banking UK Backs Cross-Border B2B Payments Company MODIFI with $100 Million Facility
The partnership with HSBC Innovation Banking is a key component of MODIFI’s refinancing strategy, aimed at diversifying its funding sources with world-class capital providers. This comes on the heels of a $75 million debt facility MODIFI recently closed with another leading global financial institution.
Nelson Holzner, CEO and Co-Founder of MODIFI, expressed his enthusiasm about the partnership with HSBC, stating, "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."
"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 on its trajectory to become a leading provider of trade finance products," said Conor Sheehy, Head of Fintech Warehouse Finance at HSBC Innovation Banking UK.
MODIFI is a global business payments company that 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. Founded in 2018, MODIFI has a presence in 11 locations worldwide, including Amsterdam, Berlin, New York, Mexico-City, Delhi, Mumbai, Shenzhen, Hong Kong, Singapore, Dubai and Dhaka with over 1,500 buyers and sellers across more than 50 countries.
About HSBC Innovation Banking:
HSBC Innovation Banking offers flexible banking solutions for start-ups, scale-ups, growth businesses, investors and those working towards IPO. From comprehensive banking to managing cashflow to plans for buyouts to Global Funds Banking, we fuel ideas at every stage of their journey.
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Director of global marketing, MODIFI