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HSBC U.S. Innovation Banking Expands Venture Debt Offering
HSBC announced today that HSBC Innovation Banking, a business division with services provided by HSBC Bank USA, N.A. and its affiliates, has expanded its venture debt offering in the U.S. to support companies from Series A through scaled multi-national enterprises. While HSBC has been providing venture debt to later-stage innovation companies since 2019, this broader offering is aligned with the Innovation Banking strategy to work with companies at the earliest stages of their development. In addition to the venture debt offering, HSBC has developed banking packages tailored to meet the evolving needs of innovation companies as they scale from startups to highly complex multi-national businesses.
“We are excited about the continued expansion of our suite of products and solutions designed to serve the innovation economy,” said David Sabow, U.S. Head of HSBC Innovation Banking. “HSBC already works with some of the largest technology and healthcare companies in the world. Early-stage innovation companies with global ambitions no longer have to change their banking partner as they build and scale.”
HSBC Innovation Banking’s venture debt offering in the U.S. will be led by industry veterans Katherine Andersen, Melissa Stepanis, Sunita Patel, Peter Kidder, Jason Hughes, Prasant Chunduru, and Kevin Longo.
Venture debt is a more flexible form of capital for venture capital-backed, high-growth companies that want to extend their funding runway or accelerate their growth. As the leading international bank for innovation companies around the world, HSBC’s venture debt solution is a natural complement to its comprehensive suite of banking products.
HSBC Innovation Banking in the U.S. includes a team of more than 40 dedicated bankers assembled across the Bay Area, Boston and New York City. The proposition also has teams in the UK, Tel Aviv, and Hong Kong that deliver a globally-connected, specialized banking expertise to support a broad range of innovation businesses and their investors.
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