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HSBC launches new embedded finance venture with Tradeshift

By Gloria Methri

October 04, 2024

  • B2B Trade Credit
  • Business Spend Management
  • Europe
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HSBC, Tradeshift, SemFi by HSBC, Trade Finance, Embedded Finance, FinTech, UKHSBC has launched its new jointly owned venture, SemFi by HSBC, which aims to deliver seamless Embedded Finance solutions to business clients. The new technology company is a joint venture between HSBC and B2B global trade network Tradeshift.

SemFi will embed HSBC payment, trade and financing solutions across a range of eCommerce and marketplace venues, including Tradeshift’s own B2B network.

SemFi will deliver its solutions in the UK to begin with, enabling SME suppliers on eCommerce venues to access digital invoice financing from HSBC through a seamless experience. It also aims to offer SMEs greater flexibility and security in their spend management through the bank’s virtual card solutions.

Vinay Mendonca, Chief Executive Officer of SemFi by HSBC, said, “Businesses are increasingly looking for seamless financial solutions embedded within their eCommerce journeys so they can access them when and where they need them.”

“The new venture aims to deliver such embedded capabilities to help businesses grow. It will seek to bring the best of both worlds to our business customers and e-commerce partners: a start-up technology mindset coupled with the global scale and expertise of an international bank.”

The new venture is led by senior leadership drawn from the bank, including Vinay Mendonca as Chief Executive Officer (CEO) and Shehan Silva as Chief Operating Officer (COO). Mendonca will be accountable to Jo Miyake, Interim CEO of Global Commercial Banking at HSBC, who joins the SemFi board.

The bank has been steadily building its capabilities and presence in embedded finance, driven by business customers seeking connected financial journeys to e-commerce venues.

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