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

Contacts

HSBC:
Matt Ward
[email protected]

NepFin:
Eric Hazard
[email protected]

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