Femtech start-up partners with HSBC UK to accelerate growth

The London-based femtech start-up Elvie has partnered with HSBC UK to accelerate growth and support new product development.

Using an eight-figure funding package, Elvie aims to expand its existing product categories, support new product development using smarter technology to solve female health challenges in new areas, and continue to expand into new markets.

The start-up is one of the first beneficiaries of HSBC UK’s new £250m growth lending proposition, designed to support UK promising tech scale-ups. The package is made up of revolving credit facilities, invoice financing and trade loans.

Founded by Tania Boler in 2013, the company’s products include an app-connected trainer that helps women strengthen their pelvic floor and a wearable, electric breast pump.

“Elvie has already revolutionised every category it has entered – but we know that we have barely scratched the surface of what is possible for women’s tech,” explained Sarah Highfield, Elvie CEO.

“Brokering this long-term strategic partnership will allow us to develop more innovative products, and ultimately reach more women across the world.

“We know there is so much more we can do, and will be working closely with our partner HSBC UK – and our existing long-standing equity investors – to deliver on these growth plans.”

James Messer, global relationship director at HSBC UK, said: “Elvie is a fantastic example of a next generation business that has designed and created innovative and exciting new products which are making a huge difference to the lives of women.

“From the very beginning of our relationship, Elvie has demonstrated its exceptional ability to create solutions and operate on an international scale.”

James Cundy, managing director, head of mid-market corporate banking and structured finance, UK, added: “Elvie is a shining example of why we created the growth lending proposition.

“Not only is it a highly successful, high growth, ambitious and promising business but it is managed by an exceptionally talented team.

“It makes me proud that HSBC UK is partnering with such an inspirational – and aspirational – company that is doing genuinely exciting and revolutionary work for women on a global scale.”