He attended Randers Lærde Skole until 1865 and then apprenticed as a textile merchant in Århus.

[1] In 1892, Hasselbalch was licensed as a wgilesale merchant (grosserer) in Copenhagen and started his own business.

The company was initially based in rented rooms at Peter Bangs Vej with just one loom.

He was involved in the construction of workers' housing in Kongens Lyngby and was active in the Association for Resocialisation of Ex-convicts which was founded in 1902 as well as work among citizens with disabilities.

Hasselblach married Marie Mathilde Frederikke Helms (23 April 1866 – 18 May 1951), daughter of merchant Ehrenreich Christoffer Ludvig Moltke Helms (1829–1902) and Caroline Hansine Horsens (1821–1913), on 22 July 1885 in St. John's Church in Nørrebro.

He was also CEO of the companies AB Svenska Gardinfabriken in Gothenburg and A/S Norsk Gardinfabrik in Halden.

The curtain factory's former buildings in Kongens Lyngby are located at Gammel Lundtoftegade.

Lyngby Søndre Mølle's current building was built for the curtain factory by Valdemar Ingemann following a fire in 1902.