Silicon Valley Bank, a financial partner to technology, life science and cleantech businesses and their investors, is celebrating the first anniversary of its UK branch.
The only bank dedicated to the innovation sector in the UK, Silicon Valley Bank has grown its client base significantly since opening the branch in June 2012.
Keith Lovell, Shazam chief financial officer and Silicon Valley Bank client, says: “Finding a bank that understands your business model and adds genuine value is absolutely critical for any business trying to succeed in the innovation space. As a specialty bank they have the knowledge, global expertise and network to help us – as well as other entrepreneurs – drive growth. We have valued their service over the last year and look forward to working with the team at Silicon Valley Bank long in to the future.”
Today, Silicon Valley Bank supports the UK’s thriving technology community, including businesses such as The Foundry, MindCandy and Brandwatch, offering current and deposit accounts for a range of currencies, loans, cash management services, trade finance, foreign exchange, networking and educational events, community support and localised research. Silicon Valley Bank supports businesses in the innovation sector from startups through to public companies and provides loans alongside day-to-day banking support.
Phil Cox, head of EMEA and India and president of the UK branch for Silicon Valley Bank, says: “We expanded our services in the UK at just the right time. Government initiatives to drive tech startup success are attracting new talent and investment through the entire industry, from micro businesses to corporates. As the only bank specialising in tech, we’re uniquely positioned to capitalise on this growth by offering intelligence, networks and expertise to our clients.”
