Kiwibank is rolling out StartUp+ after a pilot revealed strong demand from early-stage businesses struggling to access funding through traditional lending.
The pilot reached its target within the first month, with demand more than three times higher than expected, a clear sign many founders are not being well served by existing funding models.
Kiwibank General Manager Business Products and Performance, Joanna Greaves, says ambition amongst many Kiwi businesses is strong, but traditional lending doesn’t work for many startups.
“For smaller businesses and startups, access to capital is often what helps them turn ambition into action, and that support becomes even more important when costs rise, cash flow tightens, and uncertainty increases. They need banking solutions that meet them where they are and support founders through the ups and downs.
“We saw strong demand from founders who are doing all the right things but don’t fit traditional lending models. That’s the gap we’ve stepped in to fill.”
We saw strong demand from founders who are doing all the right things but don’t fit traditional lending models. That’s the gap we’ve stepped in to fill.”
StartUp+ provides funding in stages, linking access to capital to key business milestones rather than a single upfront loan.
“That approach reflects how startups actually grow. We’re backing progress as it happens and providing help when it’s needed most - supporting potential in a structured way that’s sustainable for both the business and the bank.”
The programme also includes a dedicated team of business banking specialists, alongside support to reduce early-stage costs.
Businesses in the pilot span biotechnology, health technology, maritime innovation and FMCG, with founders using the funding to speed up development, reach growth milestones and expand into new markets.
“What stood out was not just the demand, but what happened next. Once founders had access to funding, they were able to move faster and take up opportunities that might otherwise have been out of reach.”
Capture The Bug founder Ankita Dhakar says StartUp+ helped unlock growth. “The support from Kiwibank gave us the confidence to move faster and pursue opportunities with major clients outside New Zealand.”
Greaves says StartUp+ reflects how Kiwibank is doing banking differently. “This is about recognising where the system isn’t working and stepping in with something better.”
Once founders had access to funding, they were able to move faster and take up opportunities that might otherwise have been out of reach.”
Media contact: External Communications media@kiwibank.co.nz.