What next for Silicon Valley Bank and its customers?
Around 100 Irish firms had a banking relationship with the start-up-friendly bank that went bust last week – some of which had debt facilities and loans that came to tens of millions of euro
Daniel Campion first began to get a sense that something was wrong with Silicon Valley Bank (SVB) on Thursday night last week, when his phone started to ping.
The co-founder and chief executive of Sitenna, a Limerick-headquartered tech company, was in a WhatsApp group with other business founders and the message was simple: ‘if you bank with SVB it would be wise to get your money out now.’
“It was a close thing,” Campion told the Business Post.