Singapore bank offers financing scheme for startups
DBS Bank has unveiled a financing scheme to provide an alternative option for tech startups seeking capital in Singapore.
The venture debt programme is designed specifically for startups that have already secured previous funding from angels or venture capitalists. To quality for the scheme, tech startups must be backed by DBS' partner venture capitalists including Vertex Venture, Monk's Hill Ventures, and Golden Gate Ventures, the bank said in a statement.
They must have raised more than S$1 million in Series A funding and be incorporated for at least two years. The startups also should have been in operation for at least one year and have demonstrated a commercially viable business model, DBS said.
