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HSBC Bank Provides Venture Debt Financing to Overhaul

March 25, 2022, 07:38 AM
Filed Under: Technology

Overhaul, a software-based, supply-chain visibility, integrity, and security solution for leading enterprises shipping freight globally, announced that HSBC Bank USA has provided financing to support innovation and growth ambitions into new, global markets.

As Overhaul continues to expand within the supply chain space, the company was drawn to HSBC's global reach and the launch of HSBC Ventures, a new US-based business that provides flexible capital to growth-oriented businesses, as well as those who are developing climate tech solutions and supporting a net-zero global economy.

"HSBC has a proven track record in supporting today's wider fintech landscape, making them the perfect partner to leverage as we set our sights on additional markets worldwide," said David Broe, COO of Overhaul. "We're looking forward to further building on this partnership with HSBC."

"We are excited to provide transformative support and help Overhaul further scale their operations around the world," said Martin Richards, President of HSBC Ventures and Global Head of Sustainable Finance – Commercial Banking.

As global supply chains continue to be at the forefront of today's conversations, HSBC's vast experience will provide valuable insight and strategies for future Overhaul operations.

Speaking about the announcement, Alan Duffy, CEO and Head of Banking HSBC Ireland commented, "HSBC Ireland is delighted to have played a key role in this funding. It is an exciting deal from a local perspective, supporting a client with strong Irish roots and a growing business here in Ireland in their global ambitions."

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