Verto claims a quarter of SVB customers operating in Africa are opening accounts on its platform

Verto, a London-based B2B cross-border foreign exchange (FX) and payments enabler for startups and small businesses, said it has acquired a quarter of Silicon Valley Bank (SVB) customers from Africa and the MENA region.
According to the startup’s own data, SVB had nearly 250 clients operating in both regions before its collapse — the American bank provided startups with venture debt, credit cards, and term loans. Thus, it is onboarding over 60 companies and venture firms (some with headquarters in the U.S. and Europe), including Jumia, Chipper Cash and TapTap Send.
After the bank’s colla

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