SVB fallout: Fintech, venture capital companies come to the rescue

Razorpay is offering domestic start-up clients to move their money into their Indian current accounts as FDI through the firm's partner banks

SVB, Silicon valley bank

Photo: Bloomberg

Aryaman GuptaShivani Shinde New Delhi/Mumbai
Fintech and venture capital firms such as Recur Club, Razorpay and Trifecta Capital have come to the aid of homegrown start-ups caught in the crossfire of the Silicon Valley Bank fiasco.

Alternative funding platform Recur Club said it was allocating $15 million to all Indian founders affected by the crisis. It will not charge any platform fee for the same.

The firm is working to provide financing solutions for start-ups to fund their payroll and short-term working capital requirements within 48 hours of receiving the companies’ data and without diluting equity. Further, Recur Club is also facilitating the opening of

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First Published: Mar 12 2023 | 8:34 PM IST

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