BaFin has just granted Silicon Valley Bank a lending licence
SVB Germany Branch is now open for business in Frankfurt
Head of SVB EMEA says the German innovation scene is “very exciting and full of potential”
Phil Cox, Head of EMEA and President of the UK Branch of Silicon Valley Bank, said: "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.”
Dr Remo Gerber, Chief Commercial Officer at Lilium, commented: "Silicon Valley Bank is an important partner for Lilium – it is highly professional, flexible, and has very strong client service. The team’s support for us as a fast-growing, innovative German company is very valuable. We are delighted to see them further develop their operations in Germany."
Oscar Jazdowski, Co-Head of the German Branch of Silicon Valley Bank, said: “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.”
Dr Tim Sievers, CEO at Deposit Solutions, said, “We have watched the developments of SVB UK very closely and always hoped that SVB would set up a German office. Now, it is finally here! This will bring the German venture debt market to the next level and will support the German ecosystem significantly.”
Silicon Valley Bank to open Germany Branch
