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    Vikshita Vitthal Gujaran in News

    14-Mar-2023 04:34 AM


    Here's What Silicon Valley Bank Collapse Did To The Indian Startup Ecosystem

    A number of emergency funding options have surfaced aimed at preempting any immediate payroll or working capital crunch, after the collapse of the Silicon Valley Bank sent jitters across the startup ecosystem.
    Fintech firms such as Recur Club, GetVantage, and RazorPay Software Pvt.
    It allows companies to trade their future customer revenue at a small discount to get capital within 48 hours.
    Further, Recur said it would not charge any platform fees amid the crisis.
    Another growth capital provider that works on non-dilutive funding, GetVantage, has offered up to $250,000 in instant funding while also assisting startups to open a new dollar bank account in GIFT City, Ahmedabad.
    A lot more inbounds than expected are being seen from Indian founders with Indian operations, he said, adding that about 80–90% of Delaware-incorporated Indian-origin startups have a banking relationship with SVB.

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