Keepit, a cloud dedicated to SaaS data protection, upsized and refinanced its credit facilities amounting to $60 million from the Export and Investment Fund of Denmark (EIFO) and HSBC Innovation Banking. This move is designed to leverage the recent $50 million funding round from December 2024.
The refinancing plan consists of upsizing by $20 million and refinancing $40 million of existing HSBC Innovation Banking/EIFO facilities. The total facility will increase from $40 million pre-financing to $60 million post-financing with only a portion of the previous amount drawn.
The additional funds raised will be directed toward future-proofing the organization, supporting ongoing product development, innovation and efforts to deepen market penetration.
“At Keepit, we are committed to driving innovation and ensuring the highest level of data protection for our clients. This strategic financial move not only strengthens our financial position but also enables us to continue our growth trajectory and expand our market presence. We are excited about the future and the opportunities that lie ahead,” Morten Felsvang, co-founder and CEO of Keepit, said.
“Innovation and continuous improvement are driving us to reimagine the future of data resilience for our customers. With a strengthened financial foundation, we’re poised to create enduring, breakthrough solutions that will stand the test of time,” Frederik Schouboe, co-founder and CVO of Keepit, said.
“At HSBC Innovation Banking, we’re proud to be supporting Keepit, with the support and tools they need to fuel their growth and capitalise on their next opportunity. We are delighted to be marking this next milestone in our relationship with Keepit, and playing our part as the company continues its journey,” Sebastian Penn, head of Nordics at HSBC Innovation Banking, said.
“EIFO is delighted to continue our long term partnership with Keepit. This strategic financial move aligns with our mission to support the growth and international expansion of Danish companies. We believe in Keepit’s vision and are excited to see their continued success,” Kim Lundberg, director, tech and venture lending at EIFO, said.
