DBS looks to be a banker to startups

DBS is considering several startups including in healthcare, technology, and firms using (AI) in financial services such as insurance; transportation, and retail, waste management companies and chain logistics spaces, Verma said.

The foreign lender aims to tap its large corporate banking network to provide products such as escrows, foreign exchange and cash management coupled with advanced , trade financing, structuring, advising, sustainability as well as regulatory reporting to Indian startups.

"I could tell you more broadly the type of companies that we'll be working with - platforms who are lending into say this sector; it could be a non-bank finance company which is lending into new-age (sectors). We could be working with companies who are in the mobility segment; there are several of them who we'll look to support. We see a massive clean-tech movement in mobility," he said.

DBS Bank will use a comprehensive evaluation process to provide specific banking solutions to the startup sector, which has encountered "unique hurdles" in the digital economy.

Elaborating on risk management, Verma said it was important to bear in mind that the bank would not play the role of an equity provider while being less conventional about how it approaches to the startup space.