 "HSBC India to allocate $1 bn in non-dilutive debt capital for startups")
UK-headquartered HSBC has launched “Innovation Banking” in India, a proposition specifically tailored to the country’s technology and venture ecosystem. Through this initiative, HSBC India aims to allocate $1 billion in non-dilutive debt capital for Indian startups.
“This funding allocation is expected to support early- to late-stage growth companies to scale their operations without diluting equity, helping founders and investors retain greater control over their businesses,” the bank said in a statement.
HSBC Innovation Banking in India will offer a range of banking and financing solutions tailored to support entrepreneurial businesses throughout their lifecycle — from seed to IPO — as well as their investors.
HSBC Innovation Banking is a global proposition, with a presence across the US, the UK, Australia, New Zealand, Israel, continental Europe, Hong Kong, and mainland China, and now India.
David Sabow, global head, HSBC Innovation Banking, said: “By expanding Innovation Banking into India, we are signalling our intent to support entrepreneurial ambition globally. Our $1 bn allocation is a clear sign of our intention to support startups on their path to greater growth through funding and by accessing the benefits of our global expertise.”
“Through the combined strength of our global connectivity and significant venture network, HSBC Innovation Banking is well placed to support Indian startups to scale internationally and access new markets,” said Ajay Sharma, head of banking, HSBC India.