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HSBC Partners with FinTech Platform NepFin to Bolster Lending Proposition for Middle Market Businesses

SAN FRANCISCO--(BUSINESS WIRE)--

HSBC US Commercial Banking today announced that it has teamed up with Neptune Financial (NepFin) to better serve the capital needs of middle market businesses in the United States. Through this partnership, firms doing business with NepFin will now be able to tap HSBC for commercial banking services and its global network. This includes businesses with international needs who are based in markets where HSBC doesn’t have a physical presence or in cities where there isn’t easy access to multi-national financial institutions who can serve companies of all sizes.

“This partnership will enable HSBC to extend its global capabilities and international network to benefit more US businesses,” said EJ Achtner, Head of Digital Banking at HSBC US Commercial Banking. “We’re excited to leverage NepFin’s platform to help more middle market businesses efficiently source capital.”

NepFin, a next-generation financial services company whose commercial lending platform provides growth capital to mid-sized businesses with revenue between $10 million and $100 million, utilizes machine learning and data science to efficiently identify demand for credit and lower costs. Partnering with HSBC will enable the firm to strengthen its digital proposition through analytics and insight.

“HSBC has a long and impressive history serving all types of businesses throughout the world,” said NepFin CEO and Co-founder Albert Periu. “We look forward to combining their expertise, particularly in the middle market, with our digital platforms so that we can better serve the needs of this important segment.”

According to a recent HSBC survey, middle market businesses in the US contribute $7.3 trillion in turnover and employ more than 20.7 million people. “This segment is a major contributor to economic growth in the US. We see companies increasingly looking for new ways to grow, it’s our job to help them while also providing a great client experience,” added Achtner.

This development follows a recent announcement about HSBC’s plans to launch a Digital Partner Platform designed to improve client experience for corporate customers of all sizes, from large companies to emerging FinTech firms, through digital enhancements and partnerships. This is part of a broader effort to create a digital ecosystem that gives clients access to the capital they need to grow and succeed.

HSBC Commercial Banking

For over 150 years we have been where the growth is, connecting customers to opportunities. Today, HSBC Commercial Banking serves more than two million businesses across the world, ranging from small enterprises focused primarily on their home markets through to corporates operating across borders. Whether it is working capital, term loans, trade finance or payments and cash management solutions, we provide the tools and expertise that businesses need to thrive. As the cornerstone of the HSBC Group, we give businesses access to a geographic network covering more than 90% of global trade and capital flows. For more information visit: http://www.hsbc.com/about-hsbc/structure-and-network/commercial-banking

HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves customers through retail banking and wealth management, commercial banking, private banking, and global banking and markets segments. It operates bank branches in: California; Connecticut; Washington, D.C.; Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia; and Washington. HSBC Bank USA, N.A. is the principal subsidiary of HSBC USA Inc., a wholly-owned subsidiary of HSBC North America Holdings Inc. HSBC Bank USA, N.A. is a Member of FDIC. Investment and brokerage services are provided through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC) and insurance products are provided through HSBC Insurance Agency (USA) Inc.

About NepFin:

Neptune Financial Inc. (NepFin), is a technology-enabled commercial lending platform that provides capital solutions and financial intelligence tools to fuel the growth of mid-sized businesses across the United States. Headquartered in San Francisco, CA, NepFin’s platform serves one the most underserved sectors of the broader U.S. economy – businesses with between $10 million and $100 million in revenue. NepFin is supported by the same early-stage investors as FinTech firms SoFi, Funding Circle, Lending Club and Upgrade. For more information please visit www.nepfin.com

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