Banks, investors fill ASEAN tech funding gap with loans

HSBC eyes Indonesia as part of lender's Southeast Asian 'growth engine'

20230201 HSBC

Amanda Murphy, HSBC's head of commercial banking for South and Southeast Asia, is looking to set up a lending fund in Indonesia. (Source photos by HSBC and Reuters)

TSUBASA SURUGA, Nikkei staff writer

SINGAPORE -- With the stock market slowdown making it harder for Southeast Asia's growth-hungry tech startups to raise funds, they and their venture capital firm backers are turning to a traditional, if often overlooked, source of cash: bank loans.

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