August 4, 2023
August 4, 2023
min Read

LetsVenture partners with HSBC to enable startups build sustainable businesses

Team LetsVenture

The idea of growth at all costs has now taken a backseat as startups become more aware about being conservative with cash. Dilip Gopinath, Director & Country Lead Tech - Commercial Banking at HSBC, explains that bank capital is a different pool of funds and cash-flow is extremely crucial for banks while considering startups for investment.

Speaking at the partnership launch event organised by LetsVenture and HSBC recently, he suggested three action points for cash-flow management:  

i) Maintain weekly and monthly cash flow statements.

ii) Forecast your cash flows and keep a track on which expenses are “must-haves” and “good-to-haves.”

iii) Use the best tools to optimize the existing resources.

In order to support startups grow sustainably, LetsVenture and HSBC announced a strategic annual partnership. Under this partnership, HSBC joins hands with Scalix, a founder-focused SaaS platform by LetsVenture, to provide startup banking services and act as a growth enabler for the early-stage startups.

Commenting on the partnership, Shanti Mohan, Co-founder & CEO, LetsVenture and trica, said, “We are excited about our partnership with HSBC as it showcases our commitment to empowering the Indian startup ecosystem. With our joint capabilities, we look forward to offering exceptional resources and opportunities to the future entrepreneurs of the country.”

As a part of this partnership, HSBC will now be listed as the Platinum Banking Partner to Scalix and will also have a dedicated page which will highlight the bank’s offerings for startups. HSBC will also get connected with 15 to 20 growth-stage startups who will be a part of the quarterly Scalix fundraise cohorts.  

Addressing the audience, Shanti Mohan advised founders on the need to be self-aware about how one is building their company and the intent behind their actions. Startups should be mindful about striking a balance between achieving growth and being conservative, she added. 

Dilip Gopinath  explained that bank capital is a different pool of capital. Banks take calculated risks and focus on startups with positive cash flows. He also added that beyond lending, HSBC also acts as an enabler for startups helping them access markets, network, and support. “With HSBC, the idea is to grow with the startups and not focus on a specific exit timeline” he added.

The event also saw participation from several startup ecosystem leaders such as  Prashant Rathee, Co-founder of The Energy Company, Shalini Nair Tekwani, Lead Growth at Threado, and Aditya Srinivas Prasad, Founder & CEO of 50Fin among others who shared insights from their journeys on building a sustainable business amid economic downturns.

(Join Scalix today for a community of founders and one-stop platform to access the right tools and network to scale startups sustainably.)

Team LetsVenture

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