HSBC forges partnership with commercial lending platform NepFin

HSBC forges partnership with commercial lending platform NepFin

HSBC is teaming up with commercial lending platform Neptune Financial (NepFin) to target middle market businesses in the US in need of capital.

San Francisco-based NepFin is backed by the same early investors as SoFi, Funding Circle, LendingClub and Upgrade. The firm has taken aim at a market - mid-sized businesses with revenue between $10 million and $100 million - that traditional lenders have struggled to serve due to costs and efficiency barriers.

NepFin's answer is a platform that uses machine learning and data science to, it claims, efficiently identify demand for credit and lower costs.

The new partnership will see firms that do business with NepFin given the chance to tap HSBC for commercial banking services as well as 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 multinational financial institutions.

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

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