London healthtech firm to expand in US and China with HSBC funding
A London health technology firm has revealed plans to expand in the US and China following funding from a UK bank.
Elvie, a women’s health technology company, has secured the funding package of an undisclosed amount from HSBC UK.
The company is planning for rapid international and domestic growth, with a particular focus on the US due to a “critical need” for products that support the health of mothers.
Tania Boler, founder and CEO of Elvie, commented: “From pregnancy and childbirth, to periods and menopause – we know that women’s health has historically been overlooked in the tech space.
“And although this trend is rapidly changing, with Elvie part of this fundamental shift, femtech still largely remains a significantly underdeveloped slice of healthtech.
“We know so many issues of womanhood can be improved by technology throughout all stages of life, and there is so much potential in this space.
“Thanks to HSBC UK, we’ll be expanding further and supporting more women globally – and we’re so excited for this support.”
Tim Hamon-Watt, relationship director for East London corporate banking at HSBC UK, added: “Elvie has addressed an important need for investment in women’s health, meaning the business has gone from strength-to-strength over the past seven years.
“HSBC’s capabilities in international banking and working capital finance will help Elvie meet its growth plans and continue to improve women’s lives through smarter technology.”
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