HSBC Vietnam helps start-up access foreign capital

Friday, Jun 23, 2023 14:33

Representatives signed an agreement on strategic cooperation. — Photo courtesy of HSBC

HSBC Vietnam will support Dat Bike Vietnam Co. in digitalising its financial operations and on strategic cooperation in the international financial market.

Under an agreement signed recently between the two sides, HSBC Vietnam will help Dat Bike increase automation by upgrading its accounting system, enabling the firm to approve financial transactions with just a click, according to the company.

The strategic agreement will bring Dat Bike new opportunities to access foreign capital.

HSBC will provide a unified platform for the Vietnamese e-vehicle startup to manage centralised capital, creating a solid foundation for the firm to expand its operations in other Southeast Asian markets, starting with Singapore - the largest foreign investor in Viet Nam in 2022 and for the first five months of 2023.

On the other hand, the strategic partnership with Dat Bike will help realise HSBC Vietnam’s strategy towards promoting companies that undergo transformations in production and distribution methods.

According to Ahmed Yeganeh, head of Wholesale Banking of HSBC Vietnam, Viet Nam’s promising new economic sectors will play an important role in the Southeast Asian nation's economic growth.

Dat Bike is an example of a new era of corporate governance with an innovative business mindset and sustainable strategy to bring green vehicles to Viet Nam. - VNS

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