Starling Bank raises GBP 270 mln in funding

Monday 8 March 2021 09:20 CET | News

Starling Bank has unveiled its biggest fundraising yet, securing more than GBP 270 million from investors.

As Sky News presents it, the fundraising had taken place at a pre-money valuation of GBP 1.1 billion, confirming Starling's status as the newest British banking unicorn. The funding round is being led by Fidelity Management & Research (FMR). The Qatar Investment Authority, Railpen and the hedge fund Millennium Management were all acquiring stakes as well.

The roster of blue-chip investors will be perceived as a boost to Starling's chances of achieving the scale required to become a genuine digital banking powerhouse. Set up in 2014, Starling now has more than two million accounts, roughly 300,000 of which belong to SME banking customers.

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Keywords: Starling Bank, funding, digital banking, SMEs, challenger bank
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech