Keepit Upsizes and Refinances Credit Facilities to $60 Million USD

HSBC Innovation Banking and EIFO provide additional financing, underscoring commitment and confidence

COPENHAGEN, Denmark--(BUSINESS WIRE)--Keepit, the world’s only vendor-neutral and truly immutable cloud dedicated to SaaS data protection, today announced a strategic financial update to upsize and refinance its credit facilities amounting to $60 million USD from the Export and Investment Fund of Denmark (EIFO) and HSBC Innovation Banking. This move is designed to leverage the recent $50 million USD funding round from December 2024.

Financing overview and strategic rationale
The refinancing plan consists of upsizing by $20 million USD and refinancing $40 million USD 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 today. The company aims to build upon the momentum from the funding round in December 2024, reflecting strong growth.

Company position and future outlook
Keepit is positioned strongly with cash reserves projected to remain robust for years ahead. The company has experienced significant growth since the previous year. Keepit is expanding its market focus towards larger clients, having demonstrated relevance and value to this segment. The additional funds raised will be directed toward future-proofing the organization, supporting ongoing product development, innovation, and efforts to deepen market penetration.

Quote from Keepit Co-founder and Chief Executive Officer Morten Felsvang
"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," said Morten Felsvang, Co-founder and CEO at Keepit.

Quote from Keepit Co-founder and Chief Visionary Officer Frederik Schouboe
"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," said Frederik Schouboe, Co-founder and CVO at Keepit.

Quote from HSBC Innovation Banking
“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,” said Sebastian Penn, Head of Nordics at HSBC Innovation Banking.

Quote from EIFO
"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," said Kim Lundberg, Director, Tech & Venture Lending at EIFO.

About HSBC Innovation Banking
HSBC Innovation Banking provides commercial banking services, expertise and insights to the technology, life science and healthcare, private equity and venture capital industries. HSBC Innovation Banking is a subsidiary of HSBC Group, benefiting from its stability, strong credit rating and international reach to help fuel its growth.

About HSBC Holdings plc
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 57 countries and territories. With assets of US$3,214bn at 30 June 2025, HSBC is one of the world’s largest banking and financial services organisations.

About EIFO
The Export and Investment Fund of Denmark (EIFO) is the national promotional bank and export credit agency of Denmark combined in one new financial institution. EIFO provides a single point of access for Danish companies as well as for their foreign and domestic business partners who need risk-tolerant government capital. Across all sectors EIFO's main objective is to support the growth, export and green potential in Danish startups and SMEs with loans, guarantees and Equity Investments.

Learn more on www.eifo.dk/en/

About Keepit
Keepit provides a next-level SaaS data protection platform purpose-built for the cloud. Securing data in a vendor-independent cloud safeguards essential business applications, boosts cyber resilience, and future-proofs data protection. Unique, separate, and immutable data storage with no sub-processors ensures compliance with local regulations and mitigates the impact of ransomware while guaranteeing continuous data access, business continuity, and fast and effective disaster recovery. Headquartered in Copenhagen with offices and data centers worldwide, more than 18,000 companies trust Keepit for its ease of use and effortless, backup and recovery of cloud data.

For more information visit www.keepit.com or follow Keepit on LinkedIn.