Vouch reportedly joins peers like Fintech Unicorn Brex in order to support Silicon Valley Bank (SVB) and “reinforce the startup ecosystem’s health and stability.”
In an effort to ensure the ongoing health and stability of the startup ecosystem, Vouch announces its commitment “to continue working with the Silicon Valley Bank team and support the newly created Silicon Valley Bridge Bank, N.A (SVBB NA).”
To demonstrate its confidence in the institution, Vouch has “allocated a significant portion of its corporate funds to SVB, backed by the FDIC‘s full backstop.”
In his remarks, Vouch Co-founder Travis Hedge highlighted “the importance of a healthy SVB to the future of innovation, as the bank has supported the industry for over 40 years.”
He said:
“It is now our turn to stand by them.”
Vouch will continue “to collaborate with SVB to provide business insurance and risk management services to SVB clients.”
Over the last three years, the partnership has “enabled thousands of startups to access Vouch’s exclusive insurance products, further strengthening the startup ecosystem’s resilience.”
As noted by its management, Vouch is “a US-based provider of business insurance to thousands of high-growth companies that has raised $160 million from top-tier Silicon Valley institutions and investors including Redpoint Ventures, Y Combinator, Silicon Valley Bank, Ribbit Capital and Index Ventures.”
Since its inception in 2018, the company has “empowered clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, fast, digital-first procurement and coverages that scale as the company grows.”
As ‘The Insurance of Tech’, Vouch believes it’s “their responsibility to deliver effective and affordable insurance solutions to innovators in emerging categories.”
These entrepreneurs are “making huge bets on the future, and it’s Vouch’s job to insure away the risks that are incidental to their vision.”
Today that means “launching protection for Web3.”
Tomorrow, it could “be Climate, or Space. Wherever the next generation of founders goes, Vouch will be there to protect them.”
