HSBC 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 e-commerce and marketplace venues, including Tradeshift’s own B2B network. 

SemFi will deliver its solutions in the UK to begin with, enabling SME suppliers on e-commerce 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 HSBC virtual card solutions.

Vinay Mendonca, Chief Executive Officer of SemFi by HSBC said:

“Businesses are increasingly looking for seamless financial solutions that are embedded within their e-commerce journeys, so they can access these when and where they need them.

“SemFi by HSBC 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 startup technology mindset coupled with the global scale and expertise, of an international bank.”

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

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