21 May 2024

Law firm advises AI experts on multi-million venture debt facility

Chereta Edmeade USE.jpg

UK & Ireland law firm Browne Jacobson has advised Hurricane Modular Commerce Limited on a multi-million pound venture debt facility provided by Shawbrook Bank led by Jack Longden.

Hurricane Modular Commerce is the global leader in the provision of AI technology that powers a smooth customs flow and enables a seamless cross-border eCommerce experience.

The firm’s new growth capital will support the attainment of the company’s ambitious revenue targets and its expansion into new regional markets and industry sectors.

The company’s AI-driven, real-time data solutions cover the critical areas of HS code classification, duty and tax calculation, denied parties screening and prohibited and restricted goods screening.

Browne Jacobson advised Hurricane on the venture debt facility alongside Tom Eastwood and Harveer Gill of Debrett’s Private Finance, a corporate advisory and investment firm who work with clients and partners over the long term to create and realise shareholder value.

The Browne Jacobson team was led by senior associate Chereta Edmeade, and included partner James Tait, legal assistant Aman Rai and consultant Roger Birchall.

Chereta Edmeade (pictured), senior associate at Browne Jacobson, said: “It’s been fantastic working with the Hurricane team to secure a truly significant venture debt facility for the firm and to showcase Browne Jacobson’s venture debt capabilities.

“With this new capital, we look forward to seeing Hurricane continue to expand and set the standard for eCommerce AI provision.”

Ashley Dexter, CFO at Hurricane said: “Chereta and the Browne Jacobson team have provided invaluable support in securing this landmark venture debt facility for us.

“The combination of efficient, clear, helpful advice, aligned objectives and support enabled the transaction to be completed rapidly, which will assist sales development around the world.”


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