Analysis

March 16, 2023

SVB: Why did so many UK startups only have one bank account?

A third of UK startups used SVB as their only bank account, according to one survey


Amy O'Brien and Tim Smith

4 min read

Silicon Valley Bank UK

As startups and investors take stock of the SVB collapse and dramatic rescue, there’s one key question cropping up in post-mortems: why on earth did so many startups have just one bank account?

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Amy O'Brien

Amy O'Brien is a freelance reporter covering Italian tech. She was previously Sifted's fintech reporter

Tim Smith

Tim Smith was news editor at Sifted. He covered deeptech and AI, and produced Startup Europe — The Sifted Podcast . Follow him on X and LinkedIn

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