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Colombian businessman who saved more than $11 million from Silicon Valley Bank

Colombian businessman who saved more than $11 million from Silicon Valley Bank

The Silicon Valley bank set off alarms with all the people with stocks out there, after that Reporting a $1.8 billion loss, and declaring bankruptcy, down more than 60%.

One of the companies specialized in digital signature and identity for banks, Tora, He managed to save the money he had from Silicon Valley Bank. It is about a Colombian businessman who manages to save his money before the bank goes bankrupt.

In an interview with Radio Blue, Bilbao noted that they were able to secure $15 million in financing investment and company development, Of those millions, 12 of them were in Silicon Valley.

The CEO of Tora told how a letter ended up saving him from bankruptcy, Since he indicated that the bank’s shares fell by 30 percent, a situation that made the Colombian react and withdraw $500,000 and put it in JPMorgan.

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“We worked hard and suffered a lot and around 6pm, out of the 12m we had, we got 11m.”Bilbao noted on Radio Blu. The businessman himself added that they made this decision after a conversation on WhatsApp where investors were worried.

Not everyone was so lucky

Despite Bilbao’s reaction, not everyone enjoyed the same wealth. Famous Shark Tank entrepreneur Alexandre Torenegra lost much of his savings in Silicon Valley Bank, which was the main bank for two of his companies.and personal savings and mortgage. According to him, between 2013 and 2023 everything was fine, until what happened on March 9, 2023.

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“It has been a week of great anxiety and uncertainty for me and many others. If you’ve been affected too, stay strong, hold on, and hug your loved ones. “He will recover,” he wrote on social media.