Statement on the events surrounding Silicon Valley Bank (SVB)

March 10, 2023 9:51AM PST

We want to assure all of our stakeholders that Salsa is not impacted by the recent and ongoing events surrounding Silicon Valley Bank (SVB). We do not use SVB for money movement, and as a result, our money movement capabilities are not affected. We anticipate no impact on our customers, and all workers on Salsa's platform will continue to be paid on time. We have already scanned employee direct debits scheduled to be sent to a SVB account and together with our partners have already contacted affected employees to find alternative ways to ensure they receive their pay on time.

We are deeply saddened to see the events unfold and our hearts go out to all those affected. We are closely monitoring the situation and taking all necessary steps to create redundancies and ensure that our systems are secure and reliable.

At Salsa, we take our responsibility to our customers and partners seriously, and we are committed to providing the highest level of service and support. If you have any questions or concerns, please do not hesitate to reach out to us.

‍

Thank you for your continued trust and support,

John

CEO

‍