Ondo InsurTech Plc (GB:ONDO) has released an update.
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Ondo InsurTech Plc has restructured its vendor loan notes to HomeServe Assistance Limited, extending the loan term to March 2030 and adjusting the interest rates and repayment schedule. This strategic move aims to support Ondo’s financial flexibility and growth in the claims prevention technology sector, particularly with their LeakBot solution, which is gaining traction across the UK, Scandinavia, and the USA. The company anticipates achieving EBITDA positive trading in the second half of next year, bolstered by strong partnerships with insurance carriers.
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