9 startup founders who banked with Silicon Valley Bank share where they're moving their money: 'We will not get caught like this again'
that first and foremost, his firm advised portfolio companies to focus on business continuity.
Varun Badhwar, the founder and CEO of Endor Labs, was able to move $5 million out of Silicon Valley Bank to First Republic on Thursday afternoon just before 3 p.m. But the software startup, which just, still has the majority of the company's funds at SVB. She'll continue to bank with Brex, but long term, she's planning to open an account at one of the Big Four banks and keep the majority of her startup's money there, she said. Fintechs and VCs have also stepped in to help
"I think Mercury was already taking a lot of startup business," he said."Their digital products are really good and now that we know to check, the insurance being higher helps." Series, another neobank that's historically catered to startups, has seen an influx in account openings since late last week, founder Brexton Pham told Insider.
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