Silicon Valley Bank expands to Sweden
Silicon Valley Bank (SVB) UK has announced further Nordic expansion with the establishment of a representative office in Stockholm. SVB previously opened an office in Denmark at the end of 2019.
SVB UK notes that their expansion into Sweden builds on their Nordic presence and will further accelerate plans to deploy capital through debt financing in Sweden’s innovation operations, as well as venture capital and private equity funds. The move comes after SVB UK completed its subsidiary process.
SVB UK hired Maria Ljungberg to lead the expansion as country director, and will be responsible for building the offer in Sweden. Ljungberg was previously CEO of Propel Capital and has startup experience through the startup accelerator Sting.
Ljungberg said: “I believe that Silicon Valley Bank with its global brand, network and expanding platform has a lot to offer the Swedish market. It is a financial partner that understands the needs of innovation companies and contributes to their growth at every stage. I am delighted to build and grow our presence to make Silicon Valley Bank the best partner for Swedish innovators, investors and ecosystem influencers.”
Erin Platts, CEO of Silicon Valley Bank UK and Head of EMEA, commented: “Our new presence in Sweden is a natural expansion of our commitment to the Nordics and will make Sweden our sixth location in EMEA, and an important part of our future growth strategy and vision for Silicon Valley Bank in EMEA.”