DBS Bank India pledges $250m in support of India’s start-up ecosystem
DBS Bank India has made a monumental announcement, committing a staggering USD 250 million in lending support to new-age start-ups across India. This initiative is a testament to the bank’s dedication to nurturing innovation and entrepreneurship within the nation’s burgeoning start-up ecosystem, which is a critical component of India’s development goals.
The Indian start-up sector, boasting over 90,000 start-ups including more than 100 unicorns by 2024, represents a dynamic and crucial element of the country’s economy. Despite demonstrating resilience and growth, these companies often face challenges in accessing capital in a fluctuating economic environment. DBS Bank India’s lending commitment is strategically aimed at enterprises leveraging emerging technologies to innovate and set new industry benchmarks.
Rajat Verma, Managing Director & Head, Institutional Banking Group, DBS Bank India, expressed his views on the initiative, “We are inspired by the ability of new-age entrepreneurs to harness innovation to solve real-world challenges and hope to play a constructive role in their growth. Our lending commitment of USD 250 million for start-ups comes at an opportune time as the sector has been demonstrating improved operating metrics and a sharper focus on profitability in recent years.”
DBS Bank India plans to extend beyond financial support, leveraging its digital expertise, deep Asian connectivity, and ecosystem partnerships to offer holistic assistance to start-ups. This includes streamlined operations, efficient logistics management, and access to larger business networks, positioning the bank as a trusted partner throughout the business lifecycle.
The bank’s advanced risk assessment framework ensures a balanced approach to financing, combining traditional metrics with modern analytical tools. This comprehensive evaluation process enables DBS Bank India to provide tailored banking solutions that resonate with the dynamism of the industry innovators it aims to support.
With a presence in 19 markets and headquartered in Singapore, DBS has consistently been recognized for its global leadership and innovation in banking. In India, where DBS has been operational for 29 years, the bank continues to serve a wide range of banking needs for enterprises and individual consumers, emphasizing a seamless customer experience.
Through this significant lending commitment, DBS Bank India reaffirms its role as a catalyst for growth and innovation in the Indian start-up ecosystem, enabling entrepreneurs to achieve new heights of success and redefining the future of the industry.