ICICI Bank launches a dedicated branch for startups in Bengaluru, to facilitate networking with VCs

ICICI Bank, India's second-largest private sector lender, today announced the launch of a dedicated branch in Bengaluru to serve the banking needs of startups with a mix of digital and physical offerings.

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The bank said the branch will cater to both founders and employees of startups through a wide range of services. The branch is located at 19th Main Road, Sector 3, HSR Layout, Bengaluru, Karnataka.

Business banking services include current accounts, including GIFT City accounts, overdraft facilities, corporate credit cards, escrow services, foreign currency accounts, and working capital loans such as loans against Stand by Letter of Credit (SBLC) and Fixed Deposits. The branch will also provide access to the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.

Personal banking offerings will include family banking, 3-in-1 demat accounts, HUF accounts, home loans, loans against property, gold loans, personal loans, credit cards and investment options for startup employees and founders.

On the digital side, ICICI Bank said it will provide Corporate Internet Banking (CIB), the InstaBIZ app, Trade Online, and an Integrated Payment System to facilitate vendor and tax payments, e-collections, e-mandates, payment gateway and UPI solutions.

Through its Developer Portal, the bank will offer access to more than 250 APIs for integration across payments, collections, auto-reconciliation and related needs. Global services will include Swift remittance facilities and support for Foreign Direct Investment (FDI) and Overseas Direct Investment (ODI) transactions.

Beyond the traditional banking service, the branch also serves as an experience and engagement centre by facilitating networking with venture capitalists. Notably, the bank said that a dedicated relationship management team is also in place to provide startups with personalised support.