IBOS member Silicon Valley Bank (SVB) announced yesterday (Tuesday, 29 May 2018) that the Bank has been granted a lending licence from BaFin and will now officially open its doors in Germany.
SVB is the bank of the world’s most innovative businesses and their investors. Following the lending licence from BaFin, an SVB Germany Branch is now open for business in Frankfurt.
SVB selected Germany as its next European location because it is brimming with opportunity and has a vibrant, long-established innovation economy. Germany is home to impressive technology and life science businesses, and a growing venture capital and private equity community that supports the Bank.
Through the new branch in Frankfurt, SVB will be providing financing to both innovation companies and their investors across Germany. Services will include lending to growth stage technology and life science businesses, as well as financing acquisitions and working capital. SVB works with innovative companies around the world, including German brands such as HelloFresh, Lilium and Babbel, as well as European companies such as Secret Escapes, and US businesses including Pinterest and Zendesk.
SVB has been working with innovative businesses in Europe for over a decade and is expanding its footprint, given the exciting evolution of the European technology and venture capital industries. With company formation at a high, increased capital being raised and deployed and the creation of many successful larger companies in the region, SVB is continuing to invest in the UK, Ireland and Germany and is evaluating other opportunities in Europe for growth in new markets.
Read the full press release, via Silicon Valley Bank, here.