Icelolly also expects to invest in its team with further hires following the creation of its first chief marketing officer role. The financing will enable Icellolly to significantly boost its brand awareness with consumers through various channels online and offline. The facility will be used to fuel further growth, including strategic investments in Icelolly’s sales and marketing activities. You’ll also find more information about startup accounting on our YouTube channel and our blog.Silicon Valley Bank (SVB), the bank for innovative businesses, enterprises, and their investors, has announced it has provided Icelolly, the UK’s leading holiday comparison platform and award-winning travel brand with £2m in finance to support its future growth plans. If you have questions about venture debt or startup accounting, please contact us. Hopefully that will help startups with SVB venture debt know where they stand at the moment. The important takeaways for startups that have venture debt through SVB is that unfunded commitments will be honored, companies will be allowed to return funds to SVB with invoking a covenant breach, and that SVB is open for business. Venture debt has proven to be very resilient, and venture debt portfolios are valuable, so there will be interest in purchasing that.
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