Silicon Valley Bank (SVB) announced that it has been granted a lending licence from BaFin and will now officially open its doors in Germany. SVB selected Germany as its next European location and the hub will be located in Frankfurt.
The bank will be celebrating in Frankfurt, on Monday 4th June, with VCs, innovators and private equity firms from across Germany.
“I’m delighted to be here in Germany, having moved to Frankfurt in March. I am fortunate to have led teams in many technology ecosystems around the world with Silicon Valley Bank. Germany is a perfect blend of a proven, strong historical technology base, augmented with new disruptive innovation businesses, both of which we have the knowledge and expertise to bank at SVB,” said Oscar Jazdowski, Co-Head of the German Branch of Silicon Valley Bank.
SVB says that selected Germany 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 them.”
Through the new branch, SVB will be providing financing to both innovation companies and their investors across Germany.
According to SVB, the new branch in Frankfurt will provide financing to both innovation companies and their investors across Germany. SVB works with 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. Services include lending to growth stage technology and life science businesses, as well as financing acquisitions and working capital.
“Germany is a very exciting market for us and this is an important milestone. We have long admired the developing innovation ecosystem in Germany and as our first major move in Europe since opening our UK Branch, Germany makes sense. We are hiring a strong team in Germany and will be covering all the technology and venture markets in Germany, from our branch in Frankfurt, in delivering real value to entrepreneurs, venture capitalists and private equity firms here,” said Phil Cox, Head of EMEA and President of the UK Branch of Silicon Valley Bank.
The SBV Germany Branch location is in Guiollettstrasse 44-48, near Alter Oper, in Westend, Frankfurt.