Source: BNZ statements
New Zealand’s tech sector is set to get a boost thanks to the launch of the country’s first dedicated banking hub for early-stage technology businesses.
The Waikato-based BNZ Tech Business Hub is designed to address the unique needs of early-stage tech companies.
It offers BNZ customers access to bankers with specific training and expertise who are equipped to offer financial services to address the unique challenges and opportunities faced in the technology industries.
Tim Wixon, Head of Technology Industries at BNZ, says, “BNZ’s Tech Business Hub is not just a new offering – it represents a philosophical shift in how we approach banking for this sector. Technology businesses have distinct needs which have not historically been met by traditional banking models. Our hub will help fill this gap by offering practical guidance, advice, and tailored services to help accelerate sector growth.”
According to the Technology Investment Network, the top 200 New Zealand tech companies generated the second largest source of offshore revenue after dairy. The industry is also growing faster than any other in New Zealand and offers salaries around 30% higher than the New Zealand average.
“Technology Industries continue to be an increasingly important part of the New Zealand economy. Every year, we see more of our country’s tech companies succeed on the world stage and BNZ remains committed to assist wherever possible”, says Mr Wixon.
BNZ is ambitious in its support for technology companies in New Zealand, launching a range of innovative solutions in recent years to assist the sector, including Contracted Receivables Financing, Revenue Based Financing for SaaS businesses, and Project Scale Up, which provide high-potential and high-growth technology businesses with access to non-dilutive capital.
The new Tech Business Hub complements these offerings, underscoring BNZ’s commitment to fostering a vibrant homegrown tech ecosystem.
Tech Business Hub Team Manager – Figo Liu – says, “Tech businesses require banking partners who speak their language and understand their journey. Our goal is to nurture the tech and startup ecosystem by making it easier to start a business and grow.”
With the Tech Business Hub now up and running, BNZ is turning its attention to further ways that it can support tech businesses at all stages of their lifecycle.
“We believe that New Zealand’s tech sector has enormous potential, and we want to do everything we can to help these businesses succeed,” says Mr Wixon. “The BNZ Tech Business Hub is the next step in our commitment to this important part of our economy, and we look forward to working closely with tech entrepreneurs and innovators to help them achieve their goals.”
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