Silicon Valley Bank comes to Germany
Silicon Valley Bank (SVB), “the bank of the world’s most innovative businesses and their investors” (in its own words), has been granted a lending licence by Germany’s banking regulator, BaFin.
The new branch will be based in Frankfurt.
“SVB selected Germany as its next European location because it is brimming with opportunity and has a vibrant, long-established innovation economy,” the bank explains.
“Germany is home to impressive technology and life science businesses, and a growing venture capital and private equity community that supports them.”
The bank already has a number of German tech firms on its client list, including HelloFresh, Lilium and Babbel.
SVB will offer lending to growth stage technology and life science businesses in Germany, as well as financing acquisitions and working capital.
Elsewhere in Europe, SVB is already operating in the UK. The bank adds that it “is evaluating other opportunities in Europe for growth in new markets”.
For its tech, SVB is a long-standing Oracle customer, including the Flexcube core banking system, business process management (BPM), content management and ERP software and middleware products.