Banc of California’s Build@Banc Supports Startups From Seed Investment to IPO

Rhea-AI Summary

Banc of California (NYSE: BANC) has launched Build@Banc, a new service aimed at providing tailored banking solutions for seed and early-stage startups. The initiative offers guidance and access to a network of investors and advisers, supporting companies from inception to IPO. The bank, known for its tech-forward approach, provides various products including deposit accounts, loans, and payment processing solutions through Deepstack Technologies. Banc of California is based in Los Angeles and is the third-largest bank by assets in California. The Venture Banking Group has supported the innovation economy since 2005, offering venture debt and cash management solutions nationwide.

Positive

• Launch of Build@Banc aimed at supporting startups from seed investment to IPO.
• Tailored banking solutions for entrepreneurs, enhancing customer retention.
• Access to a network of investors and advisers, providing valuable resources to startups.
• Tech-forward banking products including digital banking platforms and mobile wallets.
• Banc of California is the third-largest bank by assets in California, indicating financial stability.
• Long-standing commitment to the innovation economy since 2005.

Negative

• No immediate financial impact or revenue figures provided for the new initiative.
• Potential high operational costs associated with supporting early-stage startups.
• Risk of high default rates on loans and lines of credit extended to startups.
• Dependence on the success of startups which can be highly volatile and uncertain.

Banc of California is dedicated to serving entrepreneurs as they grow their companies

LOS ANGELES--(BUSINESS WIRE)-- Banc of California, a wholly owned subsidiary of Banc of California Inc. (NYSE: BANC), announced today the launch of Build@Banc, a service dedicated to providing tailored banking solutions to seed and early-stage innovative startups. The Build@Banc team also provides guidance and resources to help founders choose the right banking solutions and offers introductions to its well-established network of investors and advisers.

“We want companies to start with us, stay with us and grow with us — from inception to IPO and beyond,” said Sean Lynden, President of the Venture Banking Group at Banc of California. “We are committed to being a reliable and dedicated partner for founders that can tailor high-touch banking solutions as they scale their companies.”

Banc of California is a tech-forward bank with products and services that make banking easy for entrepreneurs. In addition to deposit accounts, loans and lines of credit, the bank offers innovative payment processing solutions through Deepstack Technologies and an easy-to-use digital banking platform, as well as mobile wallets, virtual cards and a perks program.

Based in Los Angeles, Banc of California is the third-largest bank by assets headquartered in California and is one of the nation’s premier relationship-focused business banks. The bank has been committed to the innovation economy and venture-backed companies since 2005. Its Venture Banking Group offers a broad range of venture debt, treasury and cash management solutions to entrepreneurs and their private equity and venture capital investors nationwide.

About Banc of California, Inc.

Banc of California, Inc. (NYSE: BANC) is a bank holding company with over $36 billion in assets and the parent company of Banc of California. Banc of California is one of the nation’s premier relationship-based business banks, providing banking and treasury management services to small-, middle-market, and venture-backed businesses. Banc of California is the third largest bank headquartered in California and offers a broad range of loan and deposit products and services through more than 90 full-service branches throughout California and in Denver, Colorado, and Durham, North Carolina, as well as through regional offices nationwide. The bank also provides full-stack payment processing solutions through its subsidiary, Deepstack Technologies, and serves the Community Association Management industry nationwide with its technology-forward platform, SmartStreet™. The bank is committed to its local communities by supporting organizations that provide financial literacy and job training, small business support, affordable housing, and more. For more information, please visit us at www.bancofcal.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240523490014/en/

Jenn Saylors

Mobile: (310) 926-9563

Jenn.Saylors@bancofcal.com

Source: Banc of California

FAQ

What is Build@Banc by Banc of California?

Build@Banc is a service launched by Banc of California to provide tailored banking solutions to seed and early-stage startups, guiding them from inception to IPO.

What are the benefits of Build@Banc for startups?

Build@Banc offers tailored banking solutions, access to a network of investors and advisers, and innovative products like digital banking platforms and mobile wallets.

When did Banc of California launch Build@Banc?

Banc of California announced the launch of Build@Banc in its recent press release.

What products does Banc of California offer through Build@Banc?

Build@Banc offers deposit accounts, loans, lines of credit, payment processing solutions, digital banking platforms, mobile wallets, and a perks program.

How does Build@Banc support startups from inception to IPO?

Build@Banc provides tailored banking solutions, guidance, and access to a network of investors and advisers, supporting startups throughout their growth journey.

What is the stock symbol for Banc of California?

The stock symbol for Banc of California is BANC.