HSBC Innovation Banking UK backs cross-border B2B payments company MODIFI with a $100m credit facility
SINGAPORE and LONDON, July 18, 2023 /PRNewswire/ -- MODIFI, the global cross-border commercial payments company, has secured a $100 million credit facility with HSBC Innovation Banking UK for further growth.
The partnership with HSBC Innovation Banking is a key component of MODIFI's refinancing strategy, which aims to diversify its funding sources with world-class capital providers. This comes on the heels of a $75 million credit facility that MODIFI recently closed with another leading global financial institution.
Nelson Holzner, CEO and Co-Founder of MODIFI, expressed his excitement about the partnership with HSBC, stating: "We are excited to partner with a world-class financial institution like HSBC Innovation Banking to meet our clients' growing demand for greater liquidity. "
"There is a growing need for innovative solutions that remove barriers, increase transparency and allow small and medium-sized businesses to operate alongside the largest corporations. We are incredibly excited that HSBC Innovation Banking is supporting MODIFI as it continues to grow. its journey 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 trade payments company that helps exporters and importers facilitate their business internationally. Through its digital platform, the company allows suppliers to receive instant payments and offers buyers the option to defer payments for up to 180 days. Founded in 2018, MODIFI has a presence in 11 locations around the world, including Amsterdam, Berlin, New York, Mexico City, Delhi, Mumbai, Shenzhen, Hong Kong, Singapore, Dubai and Dhaka, with more than 1,500 buyers and sellers in more than 50 countries.
Acerca de HSBC Innovation Banking:
HSBC Innovation Banking offers flexible banking solutions for start-ups, expansions, growth companies, investors and those working for an IPO. From end-to-end banking to cash flow management and buyout plans at Global Funds Banking, we nurture ideas at every stage of your journey.
For more details, contact: Alyona Povarova Director of Global Marketing, MODIFImarketing@modifi.com
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