Monday, December 15, 2025 | 06:27 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

SVB rival banks benefit as startups withdraw funds to seek new home

A few banks benefited from some startups that withdrew funds from the now-failed Silicon Valley Bank

SVB, Silicon valley bank
premium

Photo: Bloomberg

By Ed Ludlow, Priscila Azevedo Rocha, Hannah Levitt and Michael Tobin | Bloomberg
A few banks benefited from some startups that withdrew funds from the now-failed Silicon Valley Bank.
 
The chief executive officer of Mercury, Immad Akhund, tweeted that his “DMs + emails are going a little crazy” and posted a link for those seeking to open an account. The company describes itself as “financial technology company, not a bank,” on its website. Its banking services are provided by Choice Financial Group and Evolve Bank & Trust. 

Since my DMs + emails are going a little crazy and I can't give the same level of personal service as I normally do.