Cash and securities

On March 13, Indian SaaS company Freshworks said that compared with the company’s entire balance sheet, the current exposure to banks in Silicon Valley is the smallest; Work with corporate customers and suppliers who use Silicon Valley bank accounts to transfer these accounts to other banks; At present, most of the company’s cash and securities are not deposited in Silicon Valley banks. Freshworks said its exposure to Silicon Valley banks was very small Analysis based on this information:Freshworks, an Indian SaaS company, recently announced that its current exposure to banks in Silicon Valley is minimal compared to the company’s entire balance sheet. This statement implies that Freshworks has taken the necessary steps to diversify its banking relationships to mitigate any potential risks associated with relying solely on one geographical area. Moreover, the company declared that it would work with its corporate customers and suppliers, who use Silicon Valley bank accounts, to move these accounts to other banks. This move shows…