Tag: silicon valley bank
Brex applies for bank charter, taps former Silicon Valley Bank exec as CEO of Brex Bank
Brex is the latest fintech to apply for a bank charter. The fast-growing company, which sells a credit card tailored for startups with Emigrant Bank currently acting as the issuer, announced Friday that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of…
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Silicon Valley Bank just made an even bigger push into wealth management
SVB Financial Group agreed today to buy Boston Private Financial Holdings in Boston for $900 million in cash and stock. It’s a big deal for SVB, which has earned a reputation over its 37-year history as a bank that’s friendly to startups, as well as venture and private equity investors.…
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Liberis, the embedded finance provider for SMEs, raises additional £70M in equity and debt
Liberis, the U.K.-based fintech that provides finance for small businesses as an alternative to a traditional bank loan or extended overdraft, has replenished its own coffers with £70 million in funding. The round is a mixture of equity and debt, although the company is declining to disclose the percentage split,…
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More debt, improving margins: How startups are retooling in the COVID-19 era
A new data set from Silicon Valley Bank (SVB) details how startups are reacting to the post-unicorn era as COVID-19-related disruptions upset the global economy and remake the risk tolerance of private investors. What SVB’s new report shows is unsurprising: venture capital deal volumes are falling, startups are tapping existing…
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Silicon Valley Bank only started processing stimulus loan applications today
In a sign of just how broken the process is for startups looking to receive stimulus dollars, Silicon Valley Bank, the bank that claims “more innovative startups bank with us than any other bank,” only just began processing claims today. “Since the CARES Act and the PPP were announced, we…
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Is this what an early-stage slowdown looks like?
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Today we’re exploring some fascinating data from Silicon Valley Bank markets report for Q1 2020. We’re digging into two charts that deal with the early-stage funding market, and after we unpack…
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