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Evening Standard
Evening Standard
Business
Simon Hunt

‘We can’t make payroll’: scores of London tech firms in cash crisis amid Silicon Valley Bank collapse

Silicon Valley Bank Silicon Valley London United Kingdom Matt Clifford Revolut Standard SVB

The UK startup ecosystem is under immense strain today after the collapse of Silicon Valley Bank has prevented scores of startups from accessing the cash to pay staff.

The Bank of England today announced the UK arm of Silicon Valley Bank was set to enter insolvency after the demise of its US parent yesterday afternoon.

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