Silicon Valley Bank has been granted a lending licence from BaFin and will officially open its doors in Germany.

SVB selected Germany as its next European location “because it is brimming with opportunity and has a vibrant, long-established innovation economy”.

Through its new branch in the country, SVB stated that it will provide financing to both innovation companies and their investors across Germany.

“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,” said Phil Cox, head of EMEA and president of the UK branch of SVB.

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“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.”

Oscar Jazdowski, co-head of the German branch of SVB, added: “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.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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