Silicon Valley Bank, which works with more than 50 percent of capital-backed US technology and life sciences companies, has created a London based branch aimed at providing services for innovative technology start-ups.

The American based company which has links with Cisco and Pinterest has already provided servicers to mobile app marker Shazam, visual effects firm The Foundry and email firm Mimecast. The move comes from the firm’s interest in taking advantage of the rising emergence of UK tech based companies and the success of Tech-City.

Chancellor George Osborne, said “The knowledge, expertise and dedication that Silicon Valley Bank brings to the ecosystem is another important step toward our objective to make the UK the best place to start.”