(7 August 2025 – Australia) HSBC has launched the first specialised innovation banking division in Australia targeting venture-backed enterprises.
Alan Watters will lead HSBC Innovation Banking in Australia as the division expands into its sixth international market alongside the US, UK, Israel, Europe, Hong Kong and mainland China following HSBC’s acquisition of Silicon Valley Bank UK’s assets in 2023. HSBC Innovation Banking has grown its client base by nearly 50 percent supported by almost 900 globally-connected innovation finance experts.
HSBC Innovation Banking offers tailored banking services, funding solutions and specialist support to faster-growing, innovation-focused scale-up companies and the investors that support them.
“HSBC Australia and New Zealand’s Innovation Banking is officially here. Drawing on HSBC’s global expertise and the heritage of SVB UK’s innovation-focused banking, this offering brings specialist banking, venture debt, tailored digital platforms, and powerful global connectivity all under one roof” commented HSBC Australia Head of Product Management, GPS, Navaid Khatib.
“HSBC Australia and New Zealand is already expanding local support for innovation with its Venture Debt solution rolled out in November 2023 — offering flexible capital and digital-first onboarding via HSBCnet, APIs, and award-winning treasury tools. With Innovation Banking now live locally, clients can expect deep sector expertise and tailored financial services for Series A to IPO ventures, seamless access to global markets and HSBC’s international reach and modern digital infrastructure including APIs, digital channels, virtual accounts, liquidity management to support scaling businesses” Khatib added.
“As the leading international bank supporting Australian corporates, we understand the challenges of expanding into new markets and the unique complexities for the tech and venture sector. We’re delighted to launch with a number of existing clients, including Australian insurtech Cover Genius which now operates in more than 60 markets and protects more than 30 million customers. The launch of Innovation Banking in Australia follows the introduction of Venture Debt to the market in 2023. HSBC remains the only bank in Australia to offer this form of debt finance and specialist expertise to scale-ups” stated HSBC Australia & NZ Head of Banking, CIB, Steve Hughes.