About Elvie

Founded in 2013, Chiaro Technology Limited, trading as Elvie, is a British company developing smarter technology for women and redesigning medical devices for women’s health into modern, connected consumer products that can be used at home.

Chiaro/Elvie has a broad portfolio of IP and Intangibles spanning patents, trade marks, copyright, designs rights, process knowledge and trade secrets, and other brand capital.

The Elvie brand now has five products on the market in the UK. Elvie Trainer is an award-winning Kegel trainer and app to help with pelvic floor exercises, while Elvie Pump, an ultra-quiet, wearable hands-free breast pump, Elvie Curve, Elvie Catch and Elvie Stride, a hospital-grade, hands-free electric pump, make up the Elvie breastfeeding range.

The challenge

Chiaro/Elvie was looking to raise debt finance to support its significant international growth plans. It wanted to further grow its existing product categories, support new product development using smarter technology to solve female health challenges in new areas, and continue to expand into new markets internationally.

The solution

Chiaro approached HSBC UK, which in June 2022 launched its new Growth Lending product for high-tech growth businesses. As part of its credit underwriting process for the scheme, HSBC UK has partnered with specialist IP services firm Inngot Ltd and requires applicants to use its world-leading online IP identification tool Goldseam and IP valuation tool Sollomon to quickly, easily and consistently identify and value their IP and intangible assets.

Inngot’s online platform helps a company map the complexities and inter-relationships between its IP and intangible asset portfolios, and delivers indicative valuations using recognised international standards, in language that lenders can easily understand and that gives them the comfort they need to make a term loan offer.

The Elvie team worked with Inngot to upload the necessary information to Inngot’s online platform.  Kirsteen Beverloo, IP & Product Legal Counsel at Elvie, says that the Sollomon valuation tool “was straightforward to complete and the fields were generally clear about what information was needed. The Inngot team were very responsive in clarifying any uncertainties.”

Chiaro/Elvie has explored IP-based finance (where IP is used as collateral for funding) in the past. Kirsteen says she would definitely recommend it as a funding option for other high-growth or scaleup companies.

The Sollomon valuation tool was straightforward to complete and the fields were generally clear about what information was needed. The Inngot team were very responsive in clarifying any uncertainties.

The Inngot team couldn’t have been more helpful in supporting us through the application process

The result

At the end of the process, supported by the information from Inngot’s valuation tools, HSBC was happy to provide Chiaro/Elvie with an eight figure funding package.