HSBC Innovation Banking launches in New Zealand

HSBC has expanded its support of the local technology and venture ecosystem with the launch of HSBC Innovation Banking in New Zealand today.

Since its establishment in 2023, HSBC Innovation Banking has grown its client base by nearly 50%, supported by nearly 900 globally connected innovation finance experts.

HSBC Innovation Banking is backed by HSBC’s hallmark financial strength and global network. It offers tailored banking services, funding solutions and specialist support to faster-growing, innovation-focused scale-up companies and the investors that support them.

Daniel Felton, HSBC Country Manager New Zealand and Head of Corporate Banking, Australia and New Zealand, said: “As the leading international bank supporting New Zealand corporates, we understand the challenges of expanding into new markets and the unique complexities for the tech and venture sector. “In launching HSBC Innovation Banking, we see a clear opportunity to better support and connect the Kiwi innovation ecosystem with capital, customers and partners to fast track their global growth.”

Alan Watters has been appointed Head of Innovation Banking, HSBC Australia and New Zealand, and will lead the dedicated Trans-Tasman Innovation team. Alan has over 20 years of financial services experience and has led the tech and venture debt offering for HSBC across Australia and New Zealand to date.

Commenting on the launch, Alan Watters said: “HSBC Innovation Banking is the first dedicated banking service for venture-backed companies in New Zealand. We are combining the strength of a global institution with our unparalleled venture network to support scale-ups earlier in their growth cycle.

“With a strong talent and ideas pool, and a continuing trend of increased international participation in local venture capital deals, New Zealand has solid foundations to support further innovation and we are excited to play a role in this.”

The launch of Innovation Banking in New Zealand follows the introduction of Venture Debt to the market in early 2024. HSBC remains the only bank in New Zealand to offer this form of debt finance and specialist expertise to scale-ups.