Zenvia Informs Minimal Exposure to US Banks

Rhea-AI Summary

Zenvia Inc. (NASDAQ: ZENV), a leading cloud-based CX platform in Latin America, has released a statement addressing its banking relationship with Silicon Valley Bank (SVB) following investor inquiries. The company reports minimal exposure to SVB, totaling less than $100 thousand, which is FDIC-insured. With 92% of its cash in Brazil, Zenvia anticipates no material impact on its financial condition from SVB's transition into receivership. The company assures stakeholders it will continue to monitor any potential effects on its operations and relationships with customers and partners.

Positive

• Minimal exposure to Silicon Valley Bank, totaling less than $100 thousand, which is FDIC-insured.
• No anticipated material impact on financial condition or operations due to SVB's situation.

Negative

• None.

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SÃO PAULO, March 13, 2023 /PRNewswire/ -- Zenvia Inc. (NASDAQ: ZENV), the leading cloud-based CX platform in Latin America empowering companies to transform their customer journeys, today provided commentary on its current banking relationship with US Banks, including Silicon Valley Bank (SVB), in response to investor questions.

Zenvia maintains its cash and short-term investments with a diverse group of large global financial institutions, with 92% of our cash and cash equivalents in Brazil, 4% in Mexico, 2% in Argentina and 2% in the US.

Zenvia's exposure to SVB totals less than $100 thousand (~BRL500 thousand), an amount that is FDIC-insured. We do not anticipate a material impact to our financial condition or operations as a result of SVB's transition into receivership by the FDIC. We have no credit facilities or other financial relationships with SVB.

We will continue to monitor the situation and any impact on Zenvia, our customers, partners, and suppliers.

Contacts

Investor Relations Caio Figueiredo Fernando Schneider ir@zenvia.com

Media Relations – Grayling Lucia Domville – (646) 824-2856 – lucia.domville@grayling.com Fabiane Goldstein – (954) 625-4793 – fabiane.goldstein@grayling.com

About ZENVIA

With operations throughout Latin America and nearly 14,000 clients, ZENVIA is driven by the purpose of empowering companies to create unique experiences for end-consumers through its unified CX SaaS end-to-end platform. ZENVIA empowers companies to transform their existing customer experience from non-scalable, physical and impersonal interactions into highly scalable, digital-first and hyper-contextualized experiences across the customer journey. ZENVIA's platform provides a combination of (i) SaaS focused on campaigns, sales teams, customer service and engagement, (ii) tools, such as software application programming interfaces, or APIs, chatbots, single customer views, journey designers, documents composer and authentication, and (iii) channels, such as SMS, Voice, WhatsApp, Instagram and Webchat. Its comprehensive platform assists customers across multiple use cases, including marketing campaigns, customer acquisition, customer onboarding, warnings, customer services, fraud control, cross-selling and customer retention, among others. ZENVIA's shares are traded on Nasdaq, under the ticker ZENV.

Forward-Looking Statements

This press release is based solely on currently available information, which is subject to change. These preliminary operating results constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts, and projections, as well as the beliefs and assumptions of management. Words such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," variations of these terms or the negative of these terms and similar expressions are intended to identify these statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond Zenvia's control. Zenvia's actual results could differ materially from those stated or implied in forward-looking statements due to several factors, including but not limited to: our ability to innovate and respond to technological advances, changing market needs and customer demands, our ability to successfully acquire new businesses as customers, acquire customers in new industry verticals and appropriately manage international expansion, substantial and increasing competition in our market, compliance with applicable regulatory and legislative developments and regulations, the dependence of our business on our relationship with certain service providers, among other factors.

View original content:https://www.prnewswire.com/news-releases/zenvia-informs-minimal-exposure-to-us-banks-301770504.html

SOURCE Zenvia Inc.

FAQ

What is Zenvia's exposure to Silicon Valley Bank?

Zenvia's exposure to Silicon Valley Bank is less than $100 thousand, which is FDIC-insured.

How does Zenvia expect SVB's receivership to affect its operations?

Zenvia does not anticipate a material impact on its financial condition or operations as a result of SVB's receivership.

What percentage of Zenvia's cash is held in Brazil?

Zenvia holds 92% of its cash and cash equivalents in Brazil.

Is Zenvia monitoring the situation with US banks?

Yes, Zenvia will continue to monitor the situation and any potential impact on its business relationships.