Bancorp Customers: Bank Continues National Expansion, Launches Technology and Venture Capital Banking Group

READING WEST, PA. (January 3, 2022)– Customers Bank, one of the top 100 digital consumer and commercial banks with approximately $ 19.1 billion in assets, established a nationwide Technology and Venture Banking group to serve early-stage, growing and in an advanced phase as part of the bank’s continued strategic growth. The bank gained national recognition for its technological prowess and agility in creating a hybrid fintech banking model that has provided more than 325,000 PPP loans with an aggregate value of $ 9.5 billion at small businesses earlier this year.

The Technology and Venture Banking group offers unique financial products and structures designed specifically to meet the needs of technology and venture capital companies at all stages of the lifecycle. The team takes a step-by-step approach as the main guiding principle in assessing opportunities and risks. Milestones are primarily categorized based on overall revenue and, to a lesser extent, customer base, product adoption, total addressable market, and overall capitalization.

The products and services offered include growth capital term loans, MRR credit facilities, ARR credit facilities, unitranche and FOLO credit facilities, revolving lines of credit – formula and non-formula, and traditional term loans.While the group will work with both technology and technology services companies, the primary focus will be on working with early stage, growth and late stage for-profit technology companies. The groups will focus on the entire lifecycle of technology and venture-backed companies across the country, including early stage start-ups, through growth or expansion phase, as well as the stages of maturity. Many of these clients have already raised external equity.

“Our Technology and Venture Banking group understands the unique attributes of technology and venture-backed companies, which often generate recurring and / or recurring revenue streams,” said Sam Sidhu, President and CEO of Customers Bank. “Our skilled banking team specializes in creating financing structures and providing the portfolio management services that venture capital, development capital and private equity firms require.”

The banking group, which has extensive industry expertise, is co-led by Sean McGah and Bobby Bryant, managing directors respectively. McGah brings over 15 years of total banking experience, spending the better part of a decade providing senior debt facilities to independent and sponsored technology companies. Bryant brings to the group more than 10 years of experience in commercial lending, working with software, software as a service (SaaS), healthcare technology, venture capital, and privately sponsored companies during most of his career.McGah and Bryant will focus on growing relationships with equity sponsors, private debt funds, professional management teams and other market-based COIs to establish the bank’s national presence in the industry. Robbie Barton, Vice President, Relationship Manager, helps the team create solutions to meet client challenges, and Keagan Latta, Associate Vice President and Portfolio Manager, rounds out the team to support the loan portfolio. risk.

Customers Bank is a full-service banking partner for technology and other high-growth businesses from early stage to exit. The banking group works with a wide range of equity sponsors and management teams to support high-growth, market-leading technology and venture capital companies. The group provides unique credit and lending solutions to rapidly growing nonprofits, helping them grow to their size by funding growth initiatives, extending leads and supporting mergers and acquisitions.

Customers Bank provides financial services to businesses, professionals, individuals and families through its network of branches, digital platforms and sales offices. It offers deposit, commercial loan, specialty loan and consumer loan products. The bank also offers wire transfers, electronic bill payment, safe deposit box, remote deposit capture, courier services, merchant processing, safe deposit box, controlled disbursements, positive payment services and more. Cash management services include account reconciliation, collections, and scanning accounts. Customers Bank recently announced a blockchain-based real-time payment service for business customers.

To learn more about Customers Bank and its products and services, visit

About the customer bank

Customers Bank is a full-service bank with $ 19.1 billion in assets as of September 30, 2021 and a wholly owned subsidiary of Customers Bancorp, Inc. (NYSE: CUBI). A member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation, Customers Bank is an equal opportunity lender that provides a range of banking and lending services to small and medium businesses, professionals, individuals and families. Services and products are available wherever permitted by law through mobile applications, online portals, and a network of offices and branches. Customers Bank provides blockchain-based digital payments through the Customers Bank Instant TokenMT (CBIT) which enables customers to make real-time payments in US dollars, 24 hours a day, 7 days a week, 365 days a year. More than


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