Funding supports continued UK investment and global expansion plans
London, June 1st, 2023 — Kortext, a leading provider of educational technology solutions for higher education, is delighted to announce it has been successful in securing a Growth Lending facility from HSBC UK.
This funding marks a significant milestone in Kortext’s growth trajectory. With HSBC UK’s support, Kortext will continue to spearhead digital transformation in higher education across the UK and beyond, accelerating investment in AI technologies to revolutionise teaching and personalised learning, fostering engagement, enhancing wellbeing and facilitating successful student outcomes.
This agreement marks a significant progression for Kortext in its 10th year and follows the successful Series B funding in 2021, which helped power rapid growth.
Through HSBC’s strong international presence in markets such as India, Australia, sub-Saharan Africa, Southeast Asia and the Middle East, Kortext is well-positioned to capitalise upon new opportunities and deepen its global reach.
HSBC UK launched the £250 million Growth Lending Fund in 2022, with the aim of providing support to high growth scale-ups earlier in their growth journey. The Fund provides access to finance, as well as HSBC’s international expertise, and will help businesses achieve their global ambitions.
“This endorsement of Kortext reinforces our position as an edtech sector leader, building upon our remarkable three-fold company growth over the past couple of years. We are committed to partnering with universities in the transformation of teaching and learning during this generational shift to digital in higher education, whilst leveraging data to enhance student engagement and outcomes. Our platform enables and enriches higher education and we are looking forward to working with the HSBC team to reach ever more students to empower them to reach their full potential.” James Gray, CEO at Kortext.
“We are delighted to be working with a company as innovative as Kortext – our Growth Lending Fund is for businesses who want to become global tech players by working with a global bank. HSBC UK has a strong and growing technology sector franchise – we are very excited to help better serve our high growth scale up tech customers as the go-to bank for internationally focused, UK based tech firms.” Roland Emmans, Head of UK Technology Sector & Growth Lending at HSBC UK.
Kortext is a leading provider of digital solutions for higher education, offering an innovative platform that supports institutions, educators, and students worldwide. We are the market leader in the UK and our platform is used in over 4,500 universities around the world. With a focus on learner analytics that support student retention, engagement, continuation and successful outcomes, Kortext empowers institutions to embrace digital transformation and deliver exceptional educational experiences. Learn more at www.kortext.com.
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