Daniel Bilbao, CEO of Troura and Colombian businessman spoke with blue spoke, given that his company had Silicon Valley Bank, whose fall last week became a headache for more than one businessman in the world.
As Bilbao narrated, Troura had 13 million dollars in funding, of which 1 million was found in subsidiaries in Latin America and the remaining 12 in Silicon Valley Bank, this until Thursday at 8 am
These funds would be destined for the growth of your company: “We are a start up that has a digital identity, when you open a bank account, we are the ones that make the technology to validate it without having to go to the bank”, he explained about Troura’s work.
We worked very hard, we suffered a lot and around 6 in the afternoon, of the 12 that I used, we got 11 million 750 thousand dollars
“We had raised a round, which is called series A, of 15 million dollars to grow, to take us from where we are, from selling about 7.5 million, to trying to sell about 18 or 20 million dollars a year”, characteristics.
(Of your interest: Who are the owners of Dollarcity? This is how it is founded).
Bilbao’s partner detected problems at Silicon Valley Bank on Thursday morning, after the shares fell by 30%. After giving him the data, decide to withdraw the money from the bank: “We worked very hard, we suffered a lot and around 6 in the afternoon, of the 12 that they used, we withdrew 11 million 750 thousand,” he explained.
EFE/EPA/SARAH YENESEL
Similarly, he indicated that uncertainty was also felt in WhatsApp groups that he shares with other businessmen: “There are eight different chats, I see many nervous founders, wondering what they are going to do,” he said.. “They were on edge,” he added.
Bilbao commented that until now he was only a client of the bank, although when he saw the shares go down, he had been tempted to buy some, however, he did not. “At 2 in the afternoon, it was clear to me that whoever did not get the money, he stayed there,” he said.
Unfortunately, not all Colombian businessmen had the same luck. For example, Alexander Torrenegra, founder and promoter of several companies that work in the digital field, pointed out that he not only had the income from his companies, but also his savings and a mortgage at Silicon Valley Bank.
However, not all the money will be withdrawn on time, part of your personal savings will remain in limbo. “It has been a week of extreme anxiety and uncertainty for me and many others. If you were affected too, stay strong, stick with it, and hug your loved ones. He will recover,” he wrote on social media.
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