HSBC launches Innovation Banking in New Zealand for scale-ups
HSBC has launched its Innovation Banking service in New Zealand, targeting venture-backed companies and their investors.
The introduction of HSBC Innovation Banking to New Zealand marks the first dedicated banking service in the country for scale-ups backed by venture capital. This move builds on HSBC's strategy to support the technology and venture ecosystem across various global markets, with the service now established in Australia, the United States, the United Kingdom, Israel, Continental Europe, Hong Kong and mainland China.
Since its establishment in 2023, HSBC Innovation Banking has reported a nearly 50% increase in its client base. The division is supported by approximately 900 innovation finance experts worldwide, underlining its global reach and knowledge sharing.
HSBC's Innovation Banking offers a suite of tailored banking services intended to facilitate the growth of scale-up, innovation-focused companies. This includes specialised funding solutions and support for investors working within the venture sector. The bank's established financial resources and global networks underpin these offerings, aiming to remove common friction points for New Zealand companies expanding overseas.
Local support
Daniel Felton, HSBC Country Manager New Zealand and Head of Corporate Banking, Australia and New Zealand, described the market context for the new service. He said:
"As the leading international bank supporting New Zealand corporates, we understand the challenges of expanding into new markets and the unique complexities for the tech and venture sector.
"In launching HSBC Innovation Banking, we see a clear opportunity to better support and connect the Kiwi innovation ecosystem with capital, customers and partners to fast track their global growth."
Alan Watters has been appointed as Head of Innovation Banking for HSBC Australia and New Zealand. Watters brings more than 20 years of financial services experience to the role and previously led HSBC's venture debt services in both markets.
Watters highlighted the distinctive position that HSBC Innovation Banking occupies in New Zealand. He stated:
"HSBC Innovation Banking is the first dedicated banking service for venture-backed companies in New Zealand. We are combining the strength of a global institution with our unparalleled venture network to support scale-ups earlier in their growth cycle.
"With a strong talent and ideas pool, and a continuing trend of increased international participation in local venture capital deals, New Zealand has solid foundations to support further innovation and we are excited to play a role in this."
Venture debt and banking expertise
The launch of Innovation Banking follows HSBC's introduction of Venture Debt to the New Zealand market in early 2024. Currently, HSBC remains the only bank in New Zealand offering this form of debt finance and associated specialist banking knowledge to support local scale-up companies.
This recent expansion underlines HSBC's intention to connect New Zealand's technology and innovation sectors with international capital and expertise. It also aims to provide tailored financial solutions that enable local businesses to participate more effectively in global markets.
HSBC, which serves customers across 57 countries and territories, reports assets totalling USD $3,214 billion as of 30 June 2025.
