Global trade business secures funding to support digital expansion during Covid-19

Business growth, progress or success concept. Businessman is drawing a growing virtual hologram stock bar chart on dark blue background.

Bolero International, a provider of trade finance digitisation solutions, has secured a six-figure Coronavirus Business Interruption Loan (CBILS) from HSBC UK to support sales of its new trade platform during COVID-19.

The new platform, named Galileo, enables customers to manage global trade with all its trading parties across a single digital platform, anywhere in the world. First launched to the market in February, Bolero is using HSBC UK’s funding to drive momentum and growth of the product.

The company is seeing particular demand for the product from banks, corporates and shipping liners looking to find digital, paperless trading solutions in a COVID-19 environment. The funding from HSBC UK will be used to accelerate hiring plans in the Bolero UK head office.

Andrew Raymond, CEO at Bolero International, comments: “This is a hugely exciting and busy time for the team as we expand our Galileo platform and offer a truly digital experience for our customers. The funding provided by HSBC UK will be instrumental in allowing us to maximize growth of the platform during this time, helping our clients adapt and thrive both during the pandemic and beyond.”

Richard Smith, Relationship Director in London City for HSBC UK, comments: “We’re pleased to be able to work alongside Bolero in its mission to innovative in digital trade and admire their determination to continue to grow internationally during this challenging time.”