Customers Bank
Challenger bank that built a venture franchise from SVB's diaspora.
Fund FinanceFirmUnited States
Target market
Venture funds and venture-backed companies
Geography
United States
Overview
Customers Bank, the Pennsylvania-based subsidiary of Customers Bancorp, moved aggressively into venture banking in 2023, hiring an experienced team of roughly 30 fund and technology bankers and acquiring a venture-banking loan portfolio from the FDIC. It now offers capital-call lines, fund banking and startup lending as a nimbler alternative to the money-center banks.
Key facts
- Hired a ~30-person venture banking team in June 2023
- Acquired a venture-banking loan portfolio from the FDIC (2023)
- Part of Customers Bancorp (NYSE: CUBI)
- Positions as a relationship-driven challenger to larger banks