HSBC UK Elevates Tech Scale-Up Funding: Increases Growth Lending Fund by £100 Million

HSBC UK is significantly boosting its ‘Growth Lending’ fund by £100 million, now totaling £350 million, to cater to the rising demand from high-growth tech scale-ups. Launched initially at £250 million in response to the UK Government’s appeal for increased investment in this sector, the fund targets scale-ups with robust equity backing, a successful sales history, and a clear route to profitability.

Roland Emmans, head of UK tech sector and growth lending at HSBC UK, said: “The increase to ‘Growth Lending’ restates HSBC UK’s commitment to improving the tech ecosystem to ensure the UK remains one of the best places in the world to start and run a technology business.

What’s most interesting is half the firms being helped by ‘Growth Lending’ are based outside of London, clearly demonstrating that ambitious digital technology businesses no longer feel it’s essential to be based in the capital and are able to tap into talent pools around the UK.

Moreover, these scale-ups can access up to £15 million in financing, aiding their early-stage growth aspirations. Alongside funding, HSBC offers international expertise, empowering businesses to pursue global ambitions earlier in their development.

Sectors includes firms involved in: CleanTech, Cybersecurity, EdTech, FinTech, Haptics, HealthTech, Nanotech, and Software & Digital Platforms.

Notably, in the year following its inception, Growth Lending has notably supported regional economies, with 50% of its finalized deals involving firms situated outside of London.

Source: Finextra