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Equity

One founder's account of what is left behind from SVB's crash

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 15 March 2023

⏱️ 22 minutes

🧾️ Download transcript

Summary

This week, Natasha interviewed Series CEO Brexton Pham, who has been building a full-stack enterprise platform for institutions and enterprises since March 2021. Brexton was pushed out of stealth this week in the wake of Silicon Valley Bank's crash, which of course was the main topic of our conversation. What else did you expect? Here's what we got into: How much trust do our banks deserve today, and how much has reasonable trust fallen in recent weeks? How startups can (and should) start diversifying their banks What questions Series and its competitors are getting from investors today The long-term impacts beyond SVB Brexton also did a fantastic job of helping us zoom out and take a look at the past week from a refreshingly non-tech angle. Follow us on Twitter @EquityPod for live updates, and as always, the Equity crew will be back to unpack the week's headlines on Friday. For episode transcripts and more, head to Equity’s Simplecast website.  Equity drops at 7:00 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotifyand all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:15.1

Hello and welcome back to Equity, a podcast about the business of startups where we unpack the numbers and nuance behind the headlines. I'm Natasha

0:19.2

Macaronis and this is our Wednesday show where we niche down to a single person, think about their work and unpack the rest.

0:25.8

What do you guys think we're talking about today? Obviously we're talking about

0:29.7

Silicon Valley Bank, it's collapsed. If I sound tired, it's because I am. Our producer, Teresa, is not 100%. So extra shout out to her today. But it's worth it. It's worth it that we're here on the mic because today we're talking to Series CEO, Brexton fam, who has been building a full-stack

0:44.5

enterprise for institutions and enterprises for the past few years he got pushed

0:49.3

out of stealth this week from me I'm sorry Brexton because you're kind of set to benefit or at least be a competitor

0:56.5

to the idea of where companies park their cash. Brexton welcome to the pod.

1:01.6

Thank you that was a 10 out of 10 podcast intro by the way.

1:05.2

Thank you, I've done it a few times.

1:08.0

I mean, I feel like the best times to talk to founders are when there's so much chaos that all we can do is

1:14.4

unpack it live and I mean I know I kind of have been up in your dams the whole week

1:18.9

thank you for that where should we start like you've been in stealth you're not

1:22.1

in self anymore what is

1:23.2

happening yeah honestly it has been the craziest week of my life hands down I mean

1:29.3

where do we even begin tell people about series tell people what it is yeah Yes, so we started series in January of 2021 and the premise was that enterprise and institutional financial services are very antiquated and we wanted to build something better.

1:44.1

Whether it's corporate banking or Treasury management or payroll or B2B payments, we want to provide a full-stack

1:50.1

solution for all of our customers. We primarily service. a offices, government entities. So stable entities?

2:03.1

Yes, like, very much not startups, right?

2:06.8

But because we also service a lot of underlying hedge funds,

2:09.7

real estate funds, venture funds.

2:11.3

I think once the SVM stuff started happening last week, a lot of the

2:16.4

venture funds that we service started, you know, asking us, hey, could we on board to you,

...

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