HSBC Opens Singapore Hub for High-Growth Companies and Investors
HSBC has launched its Innovation Banking arm in Singapore, allocating $1.5 billion to support high-growth companies and enhance the region’s venture ecosystem.
The unit will serve venture-backed businesses and investors with specialised products, sector expertise, and access to HSBC’s global network, according to a media release on Wednesday.
Neil Falconer has been appointed Head of Innovation Banking in Singapore and will lead a dedicated team to support existing clients and expand coverage. He will also continue to oversee the Consumer, Healthcare, and TMT sectors within HSBC’s International Mid-Market segment.
Credit Solutions Team Established
To complement this venture, HSBC has established a Credit Solutions team led by Shaun Sakhrani, Head of Credit Solutions for Singapore and Asia Head of Platform Lending, offering financing structures from venture debt to platform finance for Innovation Banking clients.
The Singapore launch is HSBC’s third Innovation Banking expansion in Asia-Pacific this year, adding to its presence in the US, UK, Australia, New Zealand, Israel, Continental Europe, India, Hong Kong, and mainland China.
Globally Connected
Since HSBC Innovation Banking was launched in 2023, the client base has grown by nearly 60 percent, and it now comprises more than 900 globally connected innovation finance experts.
HSBC has supported new-economy businesses in Singapore since 2021, recording double-digit revenue growth and backing companies such as Atome Financial, Glife Technologies, and Tickled Media.
Vibrant Network
«Home to more than 4,000 start-ups and supported by a vibrant network of investors, accelerators, and incubators, Singapore is a top destination for the start-up ecosystem in Asia-Pacific,» Gilbert Ng, Head of Banking – Singapore, Corporate and Institutional Banking, HSBC, said.
