The crash also raised fears that rising interest rates could expose vulnerabilities in the global economy as a decade of cheap money draws to a close.
Below is a list of companies around the world that have bank deposits:
Companies in the United States have disclosed more than $4 billion in bank deposits, in addition to various credit lines.
Discover stories that interest you
The online gaming company says that as of February, about 5% of its cash and securities balance is $3 billion, or about $150 million. 28 were carried out with SVB. ROCU
The streaming device maker says about $487 million, or 26% of its cash and cash equivalents, is held in deposits at SVB.
The digital media company said it had about $56 million in cash and cash equivalents at the end of 2022, most of which was in SVB.
AKITYADS HOLDINGS INC.
The Canadian tech firm says it has US bank accounts at SVB with $55 million in deposits.
The mobile app development firm says it had more than $1 billion in cash and cash equivalents as of March 10, of which less than $2 million is in SVB, adding that it has no SVB-related lines of credit.
ASTRA SPACE INC
The rocket maker says its cash is held on deposit with SVB, with the amount about 15% of the company’s current cash, cash equivalents and marketable securities as of March 10.
The semiconductor maker says it has deposit accounts with SVB with a total balance of about $12.3 million, about 3.8% of the company’s total cash and investments.
ROCKET LAB USA INC
The rocket maker says it had deposit accounts with SVB with a combined balance of about $38 million, or about 7.9% of total cash and cash equivalents and liquid securities as of December. 31
The network product maker says it had about $6.7 million in SVB deposits as of March 10, about 85% of its total outstanding deposits.
Lantronix is exploring contingency options for funding its operations in the event it is unable to recover its deposits in SVB.
ALKAMI TECHNOLOGY INC.
The digital banking solution provider says it had deposit accounts with SVB with a combined balance of about $3.3 million, as well as about $8.3 million in “sweep” accounts used by SVB to purchase external assets.
FIXING THE STITCH
The online styling services firm says it expects its $40 million line of credit with SVB to be unavailable due to the bank’s collapse. The credit line was part of the Stitch Fix agreement that $100 million was to be raised by three lenders – SVB, JPMorgan Chase Bank and Citibank.
US crypto company Circle reports that $3.3 billion of its $40 billion coin reserves are in SVB.
Bankrupt crypto lender BlockFi Inc has about $227 million of unprotected funds in SVB, the Wall Street Journal reported on Friday.
PAYONEER GLOBAL INC.
The global payment provider says that of its total cash balance of approximately $6.4 billion as of December 2019,31 less than $20 million was held in SVB.
CREDIT CLUB CORP
Financial firm with total assets of $8 billion as of February 2019. 28, says his relationship with SVB is limited to a $21 million deposit, adding that it poses no risk to the company’s ongoing operations.
The biotech firm says it has about $220 million in SVB operating accounts as of Friday.
Residential solar company Sunrun Inc says it has cash deposits in SVB totaling about $80 million, while SVB’s unused non-recourse liabilities in the warehouse complex are about $40 million.
SANNOVA ENERGY INTERNATIONAL INC.
Subsidiary Sunnova is part of a credit line in which SVB acts as a lender with unsecured obligations of US$15 million under the credit line.
OAK STREET HEALTH INCL.
The medical firm says SVB is the lender of a US$300 million term line of credit with Hercules Capital Inc, of which the company has raised US$75 million.
GINKO BIOWORK HOLDINGS INC.
The drug developer says its subsidiary Zymergen Inc holds the balance of cash in escrow accounts with SVB, totaling about $74 million in cash and cash equivalents for the company as of December. 31
ALFATEK HOLDINGS INC.
The medical technology firm says it has about $14 million in deposit accounts with SVB that are used for its day-to-day operations.
CYMABAY THERAPEUTICS INC.
The liver specialist says SVB was a commercial bank and portfolio manager for the company, and as of March 13, she had deposit accounts with SVB in which she held about $6.3 million.
About 16 technology and life sciences companies in Europe have uncovered about $190 million of SVB exposure in the UK and US.
TRUSTPILOT GROUP PLC
The Danish firm that runs the global review platform says SVB UK was its main banking partner, with $36 million held in the bank and $18 million currently being transferred from SVB UK but awaiting confirmation.
A technology and solutions provider to the pharmaceutical industry warns of significant uncertainty about its ability to service its working capital in the short term. He had most of his £22.2m in cash in SVB accounts and tried to transfer his money before SVB closed, but the transaction is pending.
The digital advertising service provider says around £3.8 million has been deposited in multiple currency accounts with SVB and SVBUK and is actively working to recover those deposits.
The Irish SaaS provider says it uses SVB for its US operations and is expected to have a maximum risk of just over $250,000, which is insured by the FDIC.
The Danish drug developer has deposits totaling DKK 162.6 million ($23.4 million) in SVB, about 15% of the group’s liquidity.
FARMING GROUP NV
The biopharmaceutical company says it has $26 million in deposits with SVB US and expects it will not incur any losses on those deposits.
The Swedish investment firm says its proportionate share of SVB deposits is less than $20 million.
RVS HOLDINGS PLC
The IP service provider says a small US SVB cash position is expected to be fully protected under the Federal Deposit Insurance Corporation scheme. He adds that SVB UK owns a portion of its foreign exchange forward contracts.
AUCTION TECHNOLOGY GROUP
The British tech company says it had senior loan arrangements with a syndicate of six banks, of which SVB represents one-sixth of the respective borrowings and undrawn amounts.
The British SaaS provider says it had about £3.2m of cash in accounts at SVB, its main bank split between the US and the UK, as of March 9.
WASHGEN HEALTH PLC
The molecular diagnostics company says it has a term line of credit with SVB UK and believes its deposits with SVB are protected by appropriate insurance schemes in the UK and US.
The British tech company says the total risk, over and above the amounts protected by the Federal Deposit Insurance Scheme and the Financial Services Compensation Scheme, is less than 0.5% of the company’s $22.2 million cash position.
The Italian semiconductor and microelectronics company says its stake in SVB is 2.5% of its cash and cash equivalents. The broker estimates this at around 10 million euros ($10.71 million).
The Swedish pension fund, which has been a shareholder of SVB since 2019, manages around SEK 1,200 billion ($111.94 billion) in assets and says its total investment in SVB was just under SEK 9 billion.
“For individual retirement savings in Alecta, the impact of this investment on future occupational retirement benefits is very small,” he adds. Alecta was the fourth largest owner of SVB with a 4.45% share as of December. 31, according to Refinitiv.
Alecta also invested about SEK 3 billion in Signature Bank, which closed just two days after SVB collapsed.
Australian productivity software maker Nitro Software Ltd said that about $12.18 million of its global cash reserves are held on deposit at SVB. Nitro, which is in the process of being acquired by private equity firm Potentia Capital, said the development would not affect the takeover bid.
Australian company Sezzle Inc, which trades now and pays later, said that about $1.2 million of its total cash and cash equivalents are held at SVB, adding that the funds held at SVB are not material to its current operations or operations.
Australian accounting software maker Xero Ltd said it has no significant risk to SVB, with a total exposure of $5 million as of March 10.
Australian location-based service provider Life360 Inc said it estimated it could be up to $5.6 million in risk without any significant disruption.
KUWAIT FINANCIAL HOUSE
The bank says it has $1.2 million in SVB risk, but this does not have a significant financial impact on the impact.