Monday, 24 June 2024

HSBC collaborates with Antler to support entrepreneurs and startups

5 min read

HSBC Singapore today announced at The Singapore Fintech Festival 2023 a collaboration with Antler, the world’s most active early-stage venture capital (VC) firm, to facilitate the growth of Southeast Asian innovation companies and entrepreneurs based in Singapore.

This collaboration aims to provide startups and founders that are a part of Antler’s network access to financial expertise and banking solutions such as preferred business banking accounts, venture debt and working capital facilities designed to support their needs and enable their growth and future expansion.

Jo Miyake, chief commercial officer, Commercial Banking, HSBC said: “Singapore boasts a flourishing startup ecosystem with some of the most innovative founders in the region and working with incubators are an important part of HSBC’s strategy to strengthen our support to the new economy. With Antler’s specific focus on investing in ‘day zero’ founders who are at the very beginning of their startup journey, this collaboration was a natural extension of our long-standing heritage and commitment to supporting the upcoming generation of entrepreneurs.”

As a result of the collaboration, all of Antler’s existing Singapore-based portfolio companies and founders will have access to HSBC’s products and services. Entrepreneurs will also gain significant internationalisation benefits as they scale beyond Singapore by utilising HSBC’s vast global reach and deeply rooted local expertise in Southeast Asia and beyond.

Deepak Jayaraman, global head of business development at Antler, said: “HSBC's commitment to innovation and entrepreneurship closely mirrors Antler's mission to support exceptional founders who are building great technology startups that solve real problems. Our collaboration with HSBC will provide our portfolio companies access to a strong international network of capital experts across the bank and a range of financing options to propel their growth. We are excited to work together with HSBC as our preferred banking partner to broaden our ability to support our Singapore-based startups.”

Antler enables and invests in the next generation of entrepreneurs and companies, that address meaningful opportunities and challenges, moving the world forward with groundbreaking technology. Core to Antler’s investment approach, the company integrates environment, social and governance (ESG) considerations into its investment decision making process at all stages, from pre-investment due diligence to post-investment monitoring and support.

Many Antler portfolio companies have become leading players in their industries, for example:

Airalo — The pioneering eSIM marketplace revolutionising global connectivity and currently serving more than five million travellers worldwide
Reebelo — The leading marketplace for refurbished tech devices and sustainable lifestyle products in six markets across APAC and now expanding into the United States.
Volopay — The leading financial solution provider for businesses in APAC, serving over 1500 customers.

In addition to other innovative lending capabilities, in 2021, HSBC announced the launch of a $200 million lending fund to support pre-profit new economy businesses in Singapore, seeking expansion across Southeast Asia and further afield. The fund provides access to financing solutions to companies that have already received funding from strategic investors, including venture capital or private equity firms, and have surpassed the proof-of-concept phase in the earliest stages of a start-up’s journey.

The collaboration amplifies HSBC’s and Antler's respective ambition to drive innovation by supporting entrepreneurs and affirms both organisations’ commitment to shaping dialogues and best practices in the financial and entrepreneurial landscapes.

Re-disseminated by The Asian Banker

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