Silvergate Bank
PublicSilvergate Bank is now publicly traded
The data on this page reflects Silvergate Bank's private-market history up to the point it went public, including its funding rounds, valuation, and investors.
Went Public
Nov 7, 2019
Last Round
Debt
Nov 1, 2022
Total Funding Raised
$9.78B
Company Overview
Silvergate Bank was a California-chartered bank founded in 1988. Initially a traditional community bank, it pivoted in 2013 to provide financial infrastructure and services to the nascent digital currency industry. The bank became known for its proprietary real-time payments platform, the Silvergate Exchange Network (SEN), which allowed 24/7 U.S. dollar transfers between its institutional crypto clients, such as exchanges and investors. After going public in 2019, the bank grew rapidly, becoming a key financial institution for the crypto ecosystem. However, following the collapse of the FTX exchange in late 2022, Silvergate experienced a severe bank run, with depositors withdrawing over $8 billion. This led to massive losses and intense regulatory scrutiny. On March 8, 2023, its parent company, Silvergate Capital Corporation, announced the intent to wind down operations and voluntarily liquidate the bank. The parent company, Silvergate Capital Corporation, subsequently filed for Chapter 11 bankruptcy in September 2024.
Sector
Consumer Products and Services (B2C)
AI Layer
Non-AI
Keywords
Silvergate Bank Comparables
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Silvergate Bank Funding Rounds
Historical fundraising activity
| Round | Date | Amount Raised | Valuation | Investors | Sources |
|---|---|---|---|---|---|
| Debt | Nov 1, 2022 | ||||
| Follow-on Offering | Dec 9, 2021 | ||||
| Follow-on Offering | Apr 30, 2021 | ||||
| IPO | Nov 7, 2019 | ||||
| Private Placement | Feb 26, 2018 |
Silvergate Bank Investors
Notable investors and investment history
| Investor | Rounds |
|---|---|
| Keefe, Bruyette & Woods | IPO, Follow-on Offering |
| Galaxy Digital | IPO |
| FJ Capital Management | Private Placement |
| Sandler O'Neill + Partners, L.P. | IPO |
| Goldman Sachs & Co. LLC | Follow-on Offering |
| Federal Reserve Bank of San Francisco | Debt |
| Federal Home Loan Bank of San Francisco | Debt |
Silvergate Bank Filings
SEC and related filings with document metadata.
| Typed | Date | Amount Offered | Amount Sold | Filling | Pages | Download |
|---|---|---|---|---|---|---|
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