London — September 29, 2022 — Espresso Capital announced today that it has extended a £6 million credit facility to HICX, the leading supplier experience management provider. The company will use the funds, together with an equity investment, to help fuel its continued growth.
“Espresso’s credit facility will allow us to further develop our supplier experience solution, expand our go-to-market teams, and complete the build-out of our senior leadership team,” said HICX CEO and Co-founder, Costas Xyloyiannis. “Venture debt was the right choice for us because it provided the flexible, non-dilutive capital we needed to accelerate our growth.”
HICX’s low-code/no-code SaaS platform and applications provide large companies full visibility into their supplier ecosystems and interactions, building resilient and competitive supply chains. Unilever, Mondelez, BAE Systems, Baker Hughes, and Lenovo, among other mega-brands, use HICX as a single source of truth for supplier data and the focal point for supplier interactions.
“HICX has a high-quality product that’s been recognized by Gartner, Forrester, and Spend Matters as well as a strong, diversified and sticky blue chip customer base,” said Espresso Director Shane Jayaprakash. “The company is growing very efficiently and building a very strong pipeline.”
“We had numerous choices when we started looking for a venture debt partner,” said Xyloyiannis. “Espresso was the best choice because of their compelling financial offering, supportive and knowledgeable team, and efficient diligence process.”
Wavecrest Growth Partners is also an investor.
HICX helps Global 5000 companies to take control of their supplier data and to deliver a great supplier experience. The HICX Supplier Experience Platform enables businesses with thousands of suppliers to efficiently on-board and manage the end-to-end lifecycle of all suppliers, to achieve a single version of truth for all supplier data, and to remove the friction from supplier relationships. Some of the world’s largest companies trust HICX for the management of their supplier data, these include Unilever, Mars, Mondelez, Lenovo, Baker Hughes and BAE Systems.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.