Model ML secures HSBC backing in $100m AI funding round | Business Chief
Model ML secures HSBC backing in $100m AI funding round | Business Chief
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Corporate Finance
Model ML secures HSBC backing in $100m AI funding round
Alec McDonnell
October 03, 2026
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Corporate Finance
Model ML secures HSBC backing in $100m AI funding round
Alec McDonnell
October 03, 2026
undefined mins
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Chaz Englander (Left), CEO at Model ML (Credit: Model ML)
HSBC Asset Management backs AI startup Model ML as the financial services sector accelerates embedding AI into its everyday workflows
The financial services sector is pressing ahead with AI adoption, with the latest investment in Model ML serving as a clear indicator of this shift.
The funding is aimed at driving growth at Model ML, supporting its current capabilities, which include the automation of complex workflows, due diligence, financial analysis and client-ready document creation.
Financial Technology Partners and QED Investors both committed capital to the company.
Among the firm's advisors are several former bank CEOs, including ex-HSBC CEO Sir Noel Quinn, ex-UBS Chairman Axel Weber, ex-Western Union CEO Hikmet Ersek and ex-CEO of Julius Baer Philipp Rickenbacher.
Key facts
Model ML launched in 2024 and has since raised US$100m in funding
HSBC Asset Management's Alternatives platform, of which its flagship VC programme is a part, is valued at US$81bn
People costs account for around 70% of operating expenses in most businesses
Technology spend is now the second largest cost for most organisations
Model ML counts four former bank CEOs among its advisors, including ex-HSBC CEO Sir Noel Quinn and ex-UBS Chairman Axel Weber
Financial services is moving quickly from experimenting with AI to embedding it into the workflows that underpin how institutions actually operate."
Chaz Englander, CEO and Co-Founder of Model ML
Additional advisors spanning a broad range of financial expertise include Former Tech Investment Banking Chairman at Barclays Keith Robinson, Former Chairman, Capital Markets at Morgan Stanley Saul Nathan, Former CEO and President of CPP Investments Mar