/ground-report/media/post_banners/wp-content/uploads/2020/06/Source-Twitter-15.jpg)
From Santa Clara in California to Singapore, via London, India and Tel Aviv, the collapse of the Silicon Valley Bank (SVB) continues to create a stir on the financial planet and in the world of “tech”.
It only took 44 hours for the favourite bank of San Francisco entrepreneurs, a victim of a “bank run” (bank panic), to be forced to close its counters. And alert the financial markets.
At the end of last week, banking stocks were caught in the storm, suffering significant losses on the stock market, while investors began to rehash the bad memories of the 2007-2008 crisis.
According to Tracxn data, Silicon Valley Bank has invested in approximately 21 Indian startups, but the specific investment amount is not disclosed. Among the Indian startups that received funding from SVB are Bluestone, Carwale, and Loyalty Rewardz.
However, Tracxn's data reveals that SVB has not made substantial investments in Indian startups since 2011. Some of the startups on the Tracxn list that received funding from SVB include Paytm, Paytm Mall, and One97 Communications.
Paytm founder Vijay Shekhar Sharma has confirmed that Silicon Valley Bank (SVB) has fully divested its investment in the company and earned significant returns, despite investing only $1.7 million. Sharma stated that SVB is no longer a shareholder in Paytm.
10 Indians client of Silicon valley bank
Paytm: Paytm is an Indian digital wallet and financial services company. The platform allows users to store money in a digital wallet, make payments, and transfer money to other users.
Shaadi.com: Shaadi.com is an Indian online matrimonial website that helps people find suitable partners for marriage.
CarWale: CarWale is an Indian online platform that provides information and services related to the automotive industry.
Naaptol: Naaptol is an Indian home shopping and e-commerce platform. The company offers a wide range of products across various categories, including home and kitchen appliances, electronics, fashion, beauty and health, sports and fitness, and more.
TutorVista: TutorVista is an Indian online tutoring platform that provides one-on-one tutoring services to students in various subjects.
Bharat Financial Inclusion: Bharat Financial Inclusion Limited, formerly known as SKS Microfinance, is an Indian microfinance company that provides financial services to underprivileged and low-income households, primarily in rural areas.
One97 Communications: One97 Communications is an Indian mobile internet company that provides a range of digital products and services. The company offers a mobile wallet and payments platform called Paytm, which allows users to make online payments, pay bills, and purchase goods and services
List of major client of Silicon valley bank from India as per Tracxn
- Divitas Networks
- Shaadi
- CarWale
- iCafe Manager
- GeodesicTechniques
- Sarva
- Asklaila
- Anantara Solutions
- Games2win Media
- Hitachi Payment Services
- Loylty Rewardz
- Genesis Colors
- iYogi
- TutorVista
- BlueStone
- Naaptol
- Bharat Financial Inclusion
- Paytm Mall
- One97 Communications
- Paytm
Silicon Valley Bank
Silicon Valley Bank (SVB) is a commercial bank based in Santa Clara, California, United States.
It provides a range of financial services and solutions to technology and innovation-focused businesses, including startups, venture capital firms, and private equity firms.
SVB offers a range of services such as corporate banking, investment banking, asset management, and market research. It also provides financing solutions, including loans, lines of credit, and debt financing.
The bank operates globally, with offices in the United States, Europe, Asia, and Israel. SVB has established itself as a leading bank for the technology and innovation industries, with a strong reputation for supporting early-stage and high-growth companies.
Keep Reading
- Silicon Valley bank closed, here is how investors can get their money back
- List of major clients of Silicon valley bank
Follow Ground Report for Climate Change and Under-Reported issues in India. Connect with us on Facebook, Twitter, Koo App, Instagram, Whatsapp and YouTube. Write us on [email protected].
