DBS Bank India Announces USD 250 Mn Lending Support for Startups and 'new economy' Companies The initiative is part of the bank's focus on fostering innovation and entrepreneurship within the country's thriving startup ecosystem.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
DBS Bank India has announced a lending commitment of USD 250 million for new-age startups. The initiative is part of the bank's focus on fostering innovation and entrepreneurship within the country's thriving startup ecosystem.
As per the official release, the Indian startup sector, a foundational pillar of the country's development goals, has seen significant expansion over the years with over 90,000 startups 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.
"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," said Rajat Verma, Managing Director and Head, Institutional Banking Group, DBS Bank India.
"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," he added.
Having established its first office in Mumbai in 1994, DBS Bank has been operating in India for 29 years. It offers a variety of banking services to individuals as well as large, medium, and small businesses in India. Lakshmi Vilas Bank and DBS Bank India Limited merged in November 2020. There are now over 530 DBS Bank India branches spread across 19 Indian states.
Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia, and South Asia.
