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HSBC India, a leading financial services group, has announced a significant increase in its lending support for high-growth tech-led start-ups in India, from the previous $250 million commitment to $600 million, up by 2.4 times..
In addition to funding, HSBC will continue to provide international expertise, empowering start-ups to pursue global ambitions earlier in their development journey.
Commenting on this initiative, Ajay Sharma, Head - Commercial Banking, HSBC India, said, “Being a part of the ecosystem, we are cognizant of the importance of providing bespoke credit solutions to start-ups to support their journey. By increasing our lending support to $600 million, we reaffirm our commitment to helping tech-focused start-ups achieve their growth ambitions and scale up their business.”
The lending will be sector-agnostic, aiming to capitalise on the opportunities across a wide gamut of industries in the startup ecosystem.
Fillip for start-ups
India is home to the world’s third-largest startup ecosystem, which has been a driving force of growth in the Indian economy.
According to the Economic Survey 2024, the number of tech start-ups has grown 15-fold over the past decade, reaching 31,000. A supportive and favourable infrastructure and policy framework has led to the rapid growth of start-ups across sectors, contributing to job creation and value generation across various facets of the economy.
India’s startup landscape is pivotal to economic growth and the enhanced support will further enable them to foster innovation, create job opportunities and boost overall economic development, he said.
HSBC India has provided lending support to companies across segments like B2B commerce, consumer tech, fintech, D2C, agritech, logistics EV etc.
Given the dynamic nature of the segment and the different growth stages of emerging startups, HSBC India has carved out a credit model and offerings to suit specific requirements of a wide spectrum of start-ups and new-age entities, ranging from the growth stage to unicorns, according to Sharma.
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