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Home Business & Finance Starling Bank raises another £60M from existing backers – TechCrunch

Starling Bank raises another £60M from existing backers – TechCrunch

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Starling Bank, the U.K.-based challenger bank founded by banking veteran Anne Boden, has raised another £60 million from its existing investors, Merian Global Investors and Harry McPike’s JTC. The investment brings the total raised by Starling to £323 million and follows two funding rounds of £105 million in aggregate led by Merian in 2019. Meanwhile, Starling is disclosing that customers have opened 1.25 million accounts (including consumer and business accounts) since its banking app launched in May 2017. It now holds more than £1.25 billion in deposits, which is an important metric for any lending bank. Starling says the new funding will support continued expansion, including a European launch — plans that were delayed because of Brexit uncertainty. […] According to the FT report, Starling staff and management will own 20% of the bank following the new funding, with Merian and JTC controlling the rest. TechCrunch Steve O’Hear feedproxy.google.com Starling Bank raises another £60M from existing backers – TechCrunch http://feedproxy.google.com/~r/Techcrunch/~3/XewqyT5zcv4/


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