Mumbai: Xcelerate Pte Ltd (Xcelerate), an integrated ESGRC operating and investing platform, has entered into definitive agreements for a debt funding arrangement of up to USD 52 million with Orion Capital Asia. The Singapore-based Environmental, Social, Governance, Risk, Compliance (ESGRC) company will utilise the funding to refinance existing debt and pursue its inorganic growth strategy, and further consolidate its businesses across APAC, UK and Australia.
Commenting on the transaction, Madhujeet Chimni, co-founder of Xcelerate said, “We are excited to partner with Orion Capital Asia in our growth journey. In Orion Capital Asia, we found a partner who is fully appreciative of our business model, supportive of our initiatives and is solutions-oriented. We look forward to working with their very experienced and capable team in a mutually beneficial partnership.”
Shishir Jain, Managing Partner of Orion Capital Asia said, “We are delighted to partner with Xcelerate in its pursuit to deliver top-quality offerings to its clients in ESG, compliance, and sustainability areas. The growth capital from the new financing would enable Xcelerate to further enhance its leadership position. We look forward to continuing to support Xcelerate’s growth in the future.”
In April this year, Xcelerate made a strong foray into Stakeholder and Sustainability Reporting and Advisory segment by acquiring a strategic equity stake in Stirrup Communication Consultants (erstwhile business of AICL Communications) and intends to expand into ESG advisory and assurance services.
Last month, Xcelerate acquired a strategic 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.
Supported by highly reputed private equity funds, including Federated Hermes, Altair Capital and Exacta Capital Partners, Xcelerate has a clearly defined roll-up strategy to bring together world-class management teams, cutting-edge technologies, and domain experts to offer comprehensive solutions on a regional basis in the ESGRC segments.