Australian and New Zealand tech firms said on Monday they did not have material exposure to Silicon Valley Bank following the failure of the U.S. startup-focused lender SVB Financial Group last week, amid fears of a contagion in Asia. Friday's failure of SVB Financial Group, which focuses on technology
Australian and New Zealand tech firms said on Monday they did not have material exposure to Silicon Valley Bank following the failure of the U.S. startup-focused lender SVB Financial Group last week, amid fears of a contagion in Asia.
Australia's Nitro Software said that about $12.18 million of the company's global cash reserves were held on deposit at SVB. U.S.-based Sezzle said the buy now, pay later firm's relationship with SVB is limited to funds on deposit which are not material to its ongoing business.
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