Silicon Valley Bank UK, the bank of the most innovative companies and investors in the UK and Europe, today announced the closing of a financing for UK listed global technology company Wise. Silicon Valley Bank UK acted as lead arranger of the syndication, with six other banks participating in the new £300m capital facility to support Wise’s future growth plans.
The syndicated facility, which was led by Silicon Valley Bank UK’s Corporate Finance team, has a hold level of £100m.
Matt Briers, Chief Financial Officer at Wise, said: “Our mission is to create money without borders - instant, convenient, transparent and eventually free. The new facility led by Silicon Valley Bank UK will offer us flexible and efficient access to working capital. This means we can continue bringing our service to as many as possible and we can keep investing in making our payments faster, cheaper and more efficient for our millions of customers around the world.”
Thomas Easterby, Managing Director of Corporate Finance at Silicon Valley Bank UK said, “We are delighted to build on our relationship with Wise by leading and arranging this significant facility to enable the company’s next phase of growth. This financing continues our long-term relationship with Wise following the pre-IPO syndicated facility last year.”
Silicon Valley Bank UK’s Corporate Finance team works with the most innovative public and late-stage private companies in the UK, providing a full suite of lending and banking solutions, as well as guidance as an active and trusted partner helping clients succeed and quickly scale.
Rosh Wijayarathna, Head of Corporate Finance, Silicon Valley Bank UK added, “Supporting innovation, innovators and their investors is in our DNA and SVB’s Corporate Finance team is thrilled to arrange this facility for Wise. We are now seeing the UK create global market leaders and the UK ecosystem maturing as a world-leading innovation hub.”