Edtech provider secures funding from HSBC UK

Kortext, a leading provider of educational technology solutions for higher education, has been successful in securing a Growth Lending facility from HSBC UK.

This funding marks a significant milestone in Kortext’s growth trajectory. With HSBC UK’s support, Kortext will continue to digital transformation in higher education across the UK and beyond, accelerating investment in AI technologies to revolutionise teaching and personalised learning, fostering engagement, enhancing wellbeing and facilitating successful student outcomes.

This funding marks a significant progression for Kortext in its 10th year, and follows the successful Series B funding in 2021, which helped its rapid growth.

Through HSBC’s strong international presence in markets such as India, Australia, sub-Saharan Africa, Southeast Asia and the Middle East, Kortext is well-positioned to capitalise upon new opportunities and deepen its global reach.

HSBC UK launched the £250m Growth Lending Fund in 2022, with the aim of providing support to high growth scale-ups earlier in their growth journey. The Fund provides access to finance, as well as HSBC’s international expertise, and will help businesses achieve their global ambitions.

James Gray, CEO of Kortext, said, “This endorsement of Kortext reinforces our position as an edtech sector leader, building upon our remarkable three-fold company growth over the past couple of years.

“We are committed to partnering with universities in the transformation of teaching and learning during this generational shift to digital in higher education, whilst leveraging data to enhance student engagement and outcomes,. Our platform enables and enriches higher education and we are looking forward to working with the HSBC team to reach ever more students to empower them to reach their full potential.”

By Mark Adair – Correspondent, Bdaily

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