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HSBC Closes More Than $30MM Working Capital Facility for iClick

March 05, 2020, 09:00 AM
Related: HSBC

iClick Interactive Asia Group Limited ("iClick"), an independent online marketing and enterprise data solutions provider in China, today announced that it has entered into a credit facility of more than US$30 million with HSBC across working capital and general corporate support.

The Facility, arranged by HSBC's GBA+ Technology Fund, will further strengthen iClick's financial position and the execution of strategic initiatives in China's Guangdong-Hong Kong-Macau Bay Area ("GBA"). The proceeds from the Facility will be used to further propel iClick's digital marketing business, develop iClick's Enterprise Solutions, and support general corporate purposes.

"We are pleased to announce this Facility, which is another tangible sign of the robust growth of iClick and a testament to our future prospects and the strength of our business model," said Jian "T.J." Tang, Chief Executive Officer and Co-Founder of iClick. "The GBA has proved to offer tremendous opportunities to new economy companies in the region in recent years. The Facility will improve our working capital that helps supercharge the growth of our core business, specifically across social and Key Opinion Leader-related channels, whilst allowing us to enhance our ability to provide value-added solutions to brands looking to expand into the Chinese market, especially as we remain fully committed to build out our enterprise solutions business. We are excited to have strong financial partners like HSBC as we continue to grow our pipeline."

iClick was featured in the "GBA+ Technology Fund" video series launched by HSBC Commercial Banking, in which Sammy Hsieh, Co-founder and Chairman of the Board of iClick, participated and discussed the significant development potential that China is offering new economy companies. The GBA is China's landmark initiative to develop the nine cities of Guangdong's Pearl River Delta, Hong Kong and Macau into an integrated economy and world-class business hub.

iClick was founded in Hong Kong in 2009 and has developed into one of the largest independent marketing technology platforms in China, with over 800 million Chinese consumer datasets. The company now operates a number of locations in the GBA and across China, as well as abroad, and was listed on Nasdaq in December 2017. Beginning in 2018, iClick extended its scope to provide enterprise solutions to multiple sectors such as retail, education, transportation and real estate, just to name a few.

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