• 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”

 Silicon Valley Bank (SVB), the bank of the world’s most innovative businesses and their investors, announced today 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 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. Services will include lending to growth stage technology and life science businesses, as well as financing acquisitions and working capital.  SVB works with innovative 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.

SVB has been working with innovative businesses in Europe for more than a decade and is expanding its footprint, given the exciting evolution of the European technology and venture capital industries. With company formation at a high, increased capital being raised and deployed and the creation of many successful larger companies in the region, SVB is continuing to invest in the UK, Ireland and Germany and is evaluating other opportunities in Europe for growth in new markets.

The bank will be celebrating at events in Berlin tonight and Frankfurt on Monday 4^th June. Over 300 guests will be attending – a mix of VCs, innovators and private equity firms from across Germany. A third event will take place in Munich on 12^th September.

 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.”