Feeds

Silicon Valley Bank lures Brit startups with sacks of cash

Sci-tech fund pump opens Blighty branch

Combat fraud and increase customer satisfaction

US tech-loving bank Silicon Valley has opened its first branch in the UK to offer cash and services to Britain’s IT startups.

Silicon Valley Bank has $20bn in assets and will be targeting the tech, life science, private equity and venture capital industries in the UK.

Chancellor George Osborne reckoned the bank’s move was “yet more proof that the UK is fast becoming the technology centre of Europe”.

“The knowledge, expertise and dedication that Silicon Valley Bank brings to the ecosystem is another important step toward our objective to make the UK the best place to start and grow the great technology companies of the future,” he said in a canned statement.

Silicon Valley Bank has been knocking around the UK since 2004 through its SVB Financial Group, so it already counts tech firms The Foundry, Shazam and Mimecast among its customers. Now that the bank has a branch in London, it will be working with venture firms including Index Ventures and Balderton Capital.

SVB has 27 offices in the US and six other international operations in China, India and Israel, all offering loans and banking services. Its US customers have included Cisco, Evernote, Mozilla and Pinterest and claims to be working with "more than 50 per cent of all venture capital-backed technology and life science companies" in the United States.

The bank has carved out a niche for itself by offering loans and services to startups, which don’t usually have the sort of financial records a traditional bank looks for.

“Building on our credentials of supporting technology firms in the US, we are excited to be able to help the UK’s entrepreneurs meet and exceed their ambitious goals,” said Phil Cox, the bank’s head of UK, Israel and India. ®

3 Big data security analytics techniques

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Kingston DataTraveler MicroDuo: Turn your phone into a 72GB beast
USB-usiness in the front, micro-USB party in the back
AMD's 'Seattle' 64-bit ARM server chips now sampling, set to launch in late 2014
But they won't appear in SeaMicro Fabric Compute Systems anytime soon
Brit boffins use TARDIS to re-route data flows through time and space
'Traffic Assignment and Retiming Dynamics with Inherent Stability' algo can save ISPs big bucks
Microsoft's Nadella: SQL Server 2014 means we're all about data
Adds new big data tools in quest for 'ambient intelligence'
prev story

Whitepapers

Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.