Introduces future-focused funding program to fuel growth aspirations of tech-focused enterprises
DBS Bank India announced a lending commitment of USD 250 million for new-age start-ups today. The initiative is part of the bank’s focus on fostering innovation and entrepreneurship within the country’s thriving start-up ecosystem.
With over 90,000 start-ups and more than 100 unicorns as of 2024, the Indian start-up sector has experienced enormous growth over the years and is now a fundamental pillar of the nation’s development aspirations.
Acknowledging the transformative potential of the startup sector, especially those utilizing cutting-edge technologies, DBS Bank India has allocated a $250 million loan support, concentrating on businesses that are poised to revolutionize industry norms through inventive solutions.
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Rajat Verma, Managing Director & Head, Institutional Banking Group, DBS Bank India said, “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. We believe that 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 intends to leverage our advanced digital expertise, deep Asian connectivity, and ecosystem partnerships to offer holistic support, even going beyond banking to empower these innovators to streamline operations, manage logistics and gain access to larger business networks. xAs a different kind of bank, our overarching objective is to become a trusted partner for start-ups across sectors and support them throughout the business lifecycle.”
Given the particular challenges faced by start-ups in the digital economy, DBS goes above and beyond to provide a plethora of special benefits that are hand-picked from partners that will help these businesses boost agility and spur growth. The bank honors contemporary entrepreneurs with initiatives like DBS Businessclass FoundED, having worked with over 1000 start-ups and 50 incubators in India to far.
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia.Â
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