Silicon Valley Bank (SVB) UK has announced further Nordic expansion with the establishment of a representative office in Stockholm. SVB previously opened an office in Denmark in late 2019.
SVB UK notes that their expansion into Sweden builds on its Nordic presence and will further accelerate plans to deploy capital through debt financing in Sweden’s innovation businesses, as well as venture capital and private equity funds. The move comes after SVB UK completed its subsidiary process.
SVB UK hired Maria Ljungberg to lead the expansion as country director, and will be responsible for building the offering in Sweden. Ljungberg was previously CEO of Propel Capital and has startup experience through startup accelerator Sting.
Ljungberg said: “I believe Silicon Valley Bank, with its global brand, network, and expanding platform has a lot to offer the Swedish market. It is a financial partner that understands the needs of innovation businesses and helps fuel their growth at every stage. I’m excited to build and grow our presence to make Silicon Valley Bank the go-to partner for the Swedish innovators, investors, and ecosystem influencers.”
Erin Platts, CEO of Silicon Valley Bank UK and head of EMEA, commented: “Our new presence in Sweden is a natural expansion of our commitment to the Nordics and will make Sweden our sixth location across EMEA, and an important part of our future growth strategy and vision for Silicon Valley Bank in EMEA.”