DBS Bank India announced a lending commitment of $250 million for new-age startups on Wednesday. The initiative is part of the bank’s focus on fostering innovation and entrepreneurship within the country’s thriving startup ecosystem.
The Indian start-up sector, a foundational pillar of the country’s development goals, has seen significant expansion over the years with over 90,000 start-ups and more than 100 unicorns as of 2024. Despite their growing resilience, access to capital for these companies in the current dynamic environment presents an ongoing challenge. Recognising the disruptive power of the startup segment, particularly those harnessing emerging technologies, DBS Bank India has earmarked lending support of $250 million, focusing on enterprises that are set to redefine industry standards with innovative solutions.
Rajat Verma, Managing Director & Head, Institutional Banking Group, DBS Bank India said in a statement, “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 startups 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. As a different kind of bank, our overarching objective is to become a trusted partner for startups across sectors and support them throughout the business lifecycle.”
