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HSBC Innovation Banking UK Backs Cross-Border B2B Payments Company MODIFI with $100 Million Facility
MODIFI, the global cross-border business payments company, has secured a $100 million debt facility with HSBC Innovation Banking UK to further growth.
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.
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