In this video, we provide a comprehensive review of Silicon Valley Bank (SVB), including the products and services they offer, benefits, and more.

00:00 Intro
00:30 What Is Silicon Valley Bank?
01:48 Product Suite
04:53 Customer Support

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Additional Resources

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SVB is one of our big partners at Kruze Consulting. And so we wanted to just do a video, explaining the strengths of SVB, so people in the startup community, I think people already kind of know it, but we figured we’d help them get the message out a little bit. So a lot of people don’t know but SVB is still relatively young. It was founded in 1982, so almost about 40 years old. But from the beginning, they had a really big focus on startup and entrepreneurs. That was like the big bet behind the bank. And you can look at their market cap. It really, really paid off. I think they had about $70 billion worth of assets, like deposits, loans they own things like that at the end of 2019. So, it’s not a small bank anymore. It’s had huge growth. It’s a big institution. And I think the reason why Kruze really likes SVB it’s really is kind of three things. First, it has just a complete product suite.

SVB really offers every product or service a startup or someone in the startup community could want. They provide wire services, bill pay, stuff like that, that startups are gonna need. And then one of their big differentiators is venture debt.

Across the country there’s not many banks that actually want to lend money to startups or companies that are losing money. It’s really hard I mean, think about it. A bank, SVB is too, is federally regulated.

The other thing about SVB is they do a lot of like personal banking things that help entrepreneurs or help team members, or even help venture capitalists.

And then the final product suite to talk about is just the fact that they serve venture capital funds, too. They have a big fund money management business. They are also known for helping and introducing big LPs.

The next thing is just a big emphasis on customer support. So if you’re a startup working with SVB, you’re gonna have an account manager assigned to you.

And then I think the other thing we like about them on the customer support side is they do think about the accounting firms like Kruze Consulting.

And so it’s really nice that SVB has all that stuff. It just makes their customer support a lot better. Now, the final thing we’ll talk about is just, SVB has proven that they are fast movers and they’re really good at filling holes in their product line. A good example, we talked about credit cards a little bit, but the old SVB credit card system was just not that great. Support wasn’t very good. The rewards were really poor. There were personal guarantees and Brex came into the market. And I think Brex did some damage in the first couple years, but SVB responded with their SVB Innovator’s card, which is a tailor-made credit card for startups. There’s no personal guarantee. They really increased the rewards. Most importantly, the customer support and integration into the rest of the SVB banking portal is so much better. It used to be such a nightmare trying to connect the old SVB credit card system to QuickBooks, and we’d have a bunch of errors and a bunch of problems. And so the SVB Innovator’s card is a really good example of that.

Another one people don’t really realize, but Stripe was founded and runs on SVB’s payment rails. I mean, they are responsible for helping one of the biggest payment innovators in all of Silicon Valley in the tech industry, get there. Without that partnership with Stripe, without the partnership with SVB, Stripe would have probably had a really difficult time getting going in early days. And then the final thing on just improving their systems is they’ve invested a lot of money. They’ve even done some acquires and bought some small startups to make their portal and all the data connections so much easier to work with if you’re an accountant.

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