HSBC India on Monday announced lending support of $250 million for high growth tech-led startups in India.
“This will be used to lend to and support the growth aspirations of tech-led startups in India’s fast growing start-up ecosystem, pegged as the third-largest in the world,” it said in a statement, adding that the lending will be sector agnostic and used to leverage opportunities across a wide gamut of industries in the start-up ecosystem. This lending support will be provided to companies from a growth stage, it further said.
Rajat Verma, Head-Commercial Banking, HSBC India said, “As an ecosystem partner, we recognise the need for start-ups to access finance to support their growth ambitions and scale up their business.”
“Given the dynamic nature of the segment and different growth stages of emerging start-ups, HSBC India has carved out a credit model and offerings to suit the specific requirements of a wide spectrum of start-ups and new-age entities, ranging from growth stage to unicorns,” the statement said.