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Why did startups use SVB over larger commercial banks? Every place I've worked has used them for some reason. I don't get it.
by Eumenes 4y ago
Why did startups use SVB over larger commercial banks? Every place I've worked has used them for some reason. I don't get it.
- xt00 4y agocommon wisdom held that it made it easier for investors to get you money -- especially from the usual sand hill road folks..
- Eumenes 4y agoI could understand like, getting the funds deposited to SVB, then managing your corporate funds in a larger more regulated bank
- nemothekid 4y agoBefore the rise of mercury/column/stripe they were also way more amicable to get access to certain banking products. I remember at one point a company I worked for wanted to start doing ACH payments out of their account. Wells Fargo had some incredibly hoops we had to go through whereas SVB was just like "we would give you access, but you need to make us your primary bank".