HSBC Launches Innovation Banking in India with $1 Billion Fund for Startups
| ➡️ Get instant news updates on Whatsapp. Click here to join our Whatsapp Group. |
HSBC India has announced the launch of its Innovation Banking in India. This service provides banking and financing solutions to support entrepreneurial businesses throughout their lifecycle, from seed stage to IPO, as well as their investors.
The bank will allocate $1 billion in non-dilutive debt capital to support Indian startups. This funding will help early- to late-stage growth companies expand without giving up equity. It allows founders and investors to keep more control over their businesses, the bank said.
The Hongkong and Shanghai Banking Corporation Limited, India or HSBC Bank India, is incorporated in Hong Kong SAR with limited liability. It is a foreign bank under the Banking Regulation Act, 1949 and thus is regulated by the Reserve Bank of India (RBI). As per the data available with the Ministry of Company Affairs (MCA), the Indian branch is registered under the number F00947 and is incorporated in India since 1 January 1983. The registered office is at Mumbai, India.
HSBC India already has significant funds for financing venture capital and domestic private equity. With Innovation Banking, the bank plans to expand this support to more funds and services.
The launch in India also expands HSBC’s global Innovation Banking platform. It will provide tailored financing and connect startups to over 900 experts worldwide.
David Sabow, Global Head of HSBC Innovation Banking, said the $1 billion allocation shows HSBC’s long-term commitment to India’s innovation economy, job creation, and skill development.
Ajay Sharma, Head of Banking at HSBC India, said, “With the launch of Innovation Banking in India, we are increasing our support for the country’s vibrant startup ecosystem. We have a strong track record of helping clients grow.”
He added that with HSBC’s global network and venture connections, Innovation Banking can help Indian startups grow internationally and access new markets.
HSBC India also said that as India is the fastest-growing major economy and a hub for tech and talent, Indian startups are expected to contribute $1 trillion to the domestic economy and create 50 million new jobs by 2030.
