HSBC and Overhaul Announce Venture Debt Financing to Fund Future Growth and Expansion Globally

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Mar 24, 2022, 09:00 ET

AUSTIN, Texas, March 24, 2022 /PRNewswire/ -- Overhaul, the industry's first and only software-based, supply-chain visibility, integrity, and security solution for leading enterprises shipping freight globally, today 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."

About Overhaul
Founded in 2016 and headquartered in Austin, Texas, Overhaul is the industry's first and only holistic, end-to-end solution that optimizes supply-chain visibility, integrity, and security for global enterprises. Its software-based approach offers high configurability and efficient time-to-value to supply-chain organizations without heavy tech. Additionally, Overhaul's logistics-experts team partners with each client to create a fully customized and comprehensive solution for the entire supply chain. As such, Overhaul has quickly grown to be a trusted provider for Fortune 100 companies moving freight globally across industries, such as pharmaceutical and healthcare, technology, logistics, and food and beverage. Customers include Microsoft, Bristol Myers Squibb, Gordon Food Service, and many others. For more information, visit over-haul.com and the Overhaul Blog, and follow them on LinkedIn, Twitter, and Facebook.

About HSBC
HSBC North America Holdings Inc. is the holding company for HSBC Holdings plc's operations in the United States. The company's businesses serve customers in the following key areas: wealth and personal banking, commercial banking, private banking, and global banking and markets.

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through wealth, personal banking, commercial banking, private banking, and global banking and markets segments. As of the close of business on December 31, 2021 it operated bank branches in: California; Washington, D.C.; Florida; New Jersey; New York, Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. In the United States, deposit products are offered by HSBC Bank USA, N.A., Member FDIC, investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

HSBC USA Inc. ("HUSI") is a Maryland corporation and its principal business is to act as a holding company for its subsidiaries including HSBC Bank USA, N.A. Through HSBC Bank USA, N.A. and its subsidiaries, HUSI offers a full range of traditional banking products and services to individuals, including high net worth individuals, small businesses, corporations, institutions and governments. HSBC USA Inc. is a wholly-owned subsidiary of HSBC North America Holdings Inc.

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 64 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,958bn at 31 December 2021, HSBC is one of the world's largest banking and financial services organisations.

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