HSBC launches Innovation Banking in Singapore | Startup Story
HSBC has officially rolled out its Innovation Banking arm in Singapore, expanding its global platform designed for high-growth and technology-led companies. Backed by a dedicated US$1.5 billion funding pool, the new operation brings specialized financing and tailored credit solutions to startups and venture capital firms in Singapore and across Southeast Asia.
A new hub in a global network
Singapore becomes the tenth market for HSBC’s Innovation Banking model, joining the US, UK, Australia, Hong Kong, Israel, India, China, New Zealand, and parts of continental Europe. Launched in 2023 within HSBC’s Commercial Banking division, the franchise has rapidly scaled into a network of more than 900 bankers focused on the innovation economy.
According to David Sabow, Global Head of Innovation Banking, the initiative targets next-generation entrepreneurs and venture-backed companies in sectors such as technology, healthcare, media, and telecommunications. The proposition emphasizes bespoke credit policies and financing structures tailored to the unique cash flow dynamics and rapid growth cycles of startups—aiming to position HSBC as a preferred banking partner for scaling innovators.
Why Singapore—and why now
Singapore’s deep innovation ecosystem, robust infrastructure, and gateway position into ASEAN make it a natural base for this expansion. HSBC’s US$1.5 billion pool—drawing on previous efforts including the US$1 billion ASEAN Growth Fund and earlier venture debt initiatives—signals the bank’s confidence in the region’s momentum and the pivotal role Singapore plays in Asia’s innovation landscape.
Gilbert Ng, HSBC’s Head of Banking for Singapore Corporate and Institutional Banking, noted that Innovation Banking “completes the client spectrum” for HSBC’s wholesale banking offering. The launch connects startups and venture capital firms into HSBC’s global network, enabling cross-border collaboration and access to capital across the bank’s 10 innovation hubs.
Tailored credit solutions for scaling companies
To support the rollout, HSBC has created a dedicated credit solutions team in Singapore led by Shaun Sikhrani, Head of Credit Solutions, Singapore and Asia Head of Platform Lending. This team will deliver customized funding products—including venture debt and platform finance—designed to meet the needs of high-growth companies, particularly in markets where equity can be scarce or overly dilutive.
These offerings complement HSBC’s broader capabilities, combining flexible, growth-aligned capital with global expertise in credit risk management. The result is a suite of financing options calibrated to the realities of startup and scale-up growth, from long sales cycles to lumpy revenue and rapid market expansion.
Momentum and market demand
Since its inception in 2023, HSBC Innovation Banking has seen rapid uptake. In the first half of 2025, active clients rose by nearly 60%, deposit volumes increased by about 50%, and loan commitments grew by roughly 25%. This traction underscores the strong demand for banking partners that understand the innovation economy and can provide specialized, scalable credit solutions.
HSBC’s balance sheet strength and international footprint add further confidence for founders and investors navigating volatility or building in nascent sectors. Beyond capital, access to sector knowledge and a global network is increasingly seen as a differentiator for startups targeting regional and international growth.
Sectors and ecosystem support
Innovation Banking covers a broad range of segments, including:
- Technology and software
- Healthcare and life sciences
- Media and telecommunications
- Consumer and mid-market companies
With Singapore as a regional hub, HSBC aims to serve the full lifecycle of innovation—from venture capital firms to their portfolio companies—facilitating connections, knowledge-sharing, and access to global markets. The bank also engages with the ecosystem through programs and industry forums focused on innovation, venture capital trends, and emerging technologies.
Strengthening Southeast Asia’s innovation trajectory
The launch aligns with Singapore’s ambition to remain a leading global hub for startups and technological advancement. For Southeast Asian founders, access to capital paired with partners who understand local market dynamics is critical. HSBC’s combination of global scale and local presence enables more nuanced, market-aware financing structures that can help companies move from early traction to sustainable scale.
As Innovation Banking gains momentum in Singapore, it reflects a broader shift among global banks to tailor services for fast-growing, innovation-led companies. The US$1.5 billion commitment highlights HSBC’s conviction in the power of high-growth firms to transform industries and drive economic value across the region.
Looking ahead
HSBC plans to deepen its product suite and sharpen its sector expertise, with particular focus on technology and healthcare—two areas demonstrating strong regional dynamism. By anchoring Innovation Banking in Singapore, HSBC extends its footprint and offers founders and venture investors a stronger route to capital, credit, and cross-border opportunities, supporting Southeast Asia’s rise as a global innovation powerhouse.
