HSBC (HSBC) Launches $1.5B Innovation Banking Program in Singapore

HSBC Holdings PLC (NYSE:HSBC) is one of the best European bank stocks to buy now. On October 29, HSBC Holdings PLC (NYSE:HSBC) launched a new product that will support startups, scale-ups, and venture investors in Singapore and region-wide. The product, which the lender describes as a “dedicated global proposition”, will receive $1.5 billion in funding. This funding pool will provide financing solutions for high‑growth innovation companies to scale their businesses. Other key innovation hubs covered under this program include mainland China, Hong Kong, continental Europe, Israel, New Zealand, Australia, the UK, the US, and India.

To steer the program, HSBC Holdings PLC named Neil Falconer the Head of Innovation Banking, Singapore. Falconer will lead a dedicated coverage team and will be aided by a Credit Solutions team. Shaun Sakhrani will lead this team as Head of Credit Solutions, Singapore, and Asia Head of Platform Lending. The program will offer platform finance and venture debt for Innovation Banking clients.

On why the lender chose Singapore for the rollout, HSBC Holdings PLC stated that the country hosts “more than 4,000 startups” and is supported by a network of investors, accelerators, and incubators. The bank added that this Singapore launch is the third Asia‑Pacific expansion of Innovation Banking in 2025 – it adds to its existing presence in multiple markets and enables startups to access major capital markets and innovation hubs via HSBC’s network.​

HSBC Holdings PLC (NYSE:HSBC) is the largest bank in Europe by assets. It is headquartered in London and operates across more than 60 countries. Its core businesses include commercial banking, global markets, wealth management, and retail banking.

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Disclosure: None. This article is originally published at Insider Monkey.