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by IANS |
July 2 (IANS) Singapore-based Environmental, Social, Governance, Risk, and Compliance (ESGRC) and investing platform Xcelerate on Tuesday said that it entered into definitive agreements for a debt funding arrangement of up to $52 million with Orion Capital Asia. The company will utilise the funding to refinance existing debt and pursue its inorganic growth strategy, and further consolidate its businesses across APAC (Asia-Pacific), UK and Australia. "In Orion Capital Asia, we found a partner who is fully appreciative of our business model, supportive of our initiatives and is solutions-oriented," Madhujeet Chimni, co-founder of Xcelerate, said in a statement. In April, Xcelerate forayed into the Stakeholder and Sustainability Reporting and Advisory segment by acquiring a strategic equity stake in Stirrup Communication Consultants and intends to expand into ESG advisory and assurance services. "The growth capital from the new financing would enable Xcelerate to further enhance its leadership position," said Shishir Jain, Managing Partner of Orion Capital Asia. Last month, Xcelerate acquired an equity stake in Gieom Business Solutions, a leading provider of Generative AI-powered regtech solutions, including standard operating procedure (SOP) and policy management, operational risk and resilience, and digital identity verification to approximately 125 BFSI clients across Europe, Middle East and India. --IANS shs/svn
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