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The US hi-tech bank has opened up a branch in London to offer banking and loan services to the UK technology sector.
Silicon Valley Bank is a subsidiary of SVB Financial Group, and counts Mozilla and Pinterest among its US clients. Shazam and The Foundry have already become clients in the UK.
Commenting on the launch, Greg Becker, CEO and president of Silicon Valley Bank, said: “The opening of a Silicon Valley Bank branch in London signals a significant step in the evolution of the technology sector in the UK at a time when there is strong government support for a thriving community of local innovation businesses. Our clients are doing remarkable things and we are excited to be a part of their success and thrilled to be open for business in the UK.”
In the US, Silicon Valley Bank has made $7 billion in loans and holds over $17 billion of client funds. The new UK branch is at 41 Lothbury, London.
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