HICX Secures £15m from HSBC Innovation Banking and Wavecrest

HICX, a supplier data management specialist serving multinational enterprises, has secured a £15 million growth funding and refinancing package from HSBC Innovation Banking and existing investor Wavecrest Growth Partners.

The company positions itself as a foundational layer for large organisations, giving them a governed, reliable supplier data backbone that works alongside existing enterprise systems. HICX says the raise comes as trusted supplier data becomes a boardroom priority, underpinning procurement, compliance, risk management and, increasingly, AI-enabled decision-making across the supply chain.

HICX plans to use the capital to keep investing in its platform and customer roadmap, expand its commercial capability for new and existing customers, and pursue selective acquisitions.

"At a time when AI automation and regulation are both raising the stakes, this is a strong vote of confidence in our position as the governed supplier data foundation that large enterprises rely on to ensure their supply chains can run smoothly," said Dafydd Llewellyn, CEO of HICX. "We are investing in the platform and product roadmap and expanding our go-to-market capability to deliver the certainty our partners need on their data foundations."

The involvement of HSBC Innovation Banking, the venture and growth arm of the UK lender, signals continued appetite among banks to fund enterprise data infrastructure at a point where supplier information is central to both compliance and the automation ambitions of large buyers.