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Silicon Valley Bank UK provides Icelolly with £2m in venture debt financing

Silicon Valley Bank (SVB), the bank for innovative businesses, enterprises, and their investors, has announced it has provided Icelolly, the UK’s leading holiday comparison platform and award-winning travel brand with £2m in finance to support its future growth plans.

The facility will be used to fuel further growth, including strategic investments in Icelolly’s sales and marketing activities. The financing will enable Icellolly to significantly boost its brand awareness with consumers through various channels online and offline. Icelolly also expects to invest in its team with further hires following the creation of its first chief marketing officer role.

The partnership with Icelolly further supports SVB UK’s commitment and growing presence in the North of England by being a valued financial partner to the Northern innovation economy which is made up of a diverse range of innovative technology and life science businesses throughout the region.

Commenting on the financing, Icelolly CEO Richard Singer, said: Silicon Valley Bank has supported our growth plans and vision and we are pleased to announce this facility today to help make Icelolly the best-loved brand for UK holidaymakers.”

Richard Faulkner, Managing Director at Silicon Valley Bank’s UK Branch, said: “We’ve enjoyed working with Icelolly and it has been great to be able to support them on this impressive journey of rapid growth and brand recognition. We look forward to a continued partnership with Richard and the rest of the Icelolly team.

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