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Roadzen Secures Mizuho Debt Extension and Facility Increase

Jul 26, 2024•almost 2 years ago

Contract Type

agreement

New YorkSoftwareArtificial IntelligenceAutomotiveInsurtechInsurance

Description

Roadzen Inc. announced that it secured an extension of the maturity date and an additional $4.0 million of capital from Mizuho Securities USA LLC, a leading global investment bank and securities firm. The amended facility increases the loan from $7.5 million to $11.5 million of 15% senior secured notes, without any additional warrants, and extends the maturity date to December 31, 2024.

Company Information

Company

Roadzen

Location

New York, New York, United States

About

Roadzen is a leading insurance technology company on a mission to transform global auto insurance powered by advanced AI. Thousands of clients - from some of the world’s leading insurers, fleets and carmakers to small fleets, brokers and insurance agents - use Roadzen’s technology to build new products, sell insurance, process claims and improve road safety. Roadzen’s pioneering work in telematics and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune and Financial Express. Roadzen has 400 employees across its global offices in the US, India, UK and France.

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