Starling Bank secures EUR 44 mln in fundings

Friday 29 May 2020 14:24 CET | News

Starling Bank, a UK-based challenger bank, has raised an additional EUR 44 million in funding.

The round was led by Harry McPike’s JTC and Merian Chrysalis Investment Company and adds to the EUR 66 million raised in February 2020. Now boasting 1.4 million accounts, Starling Bank has raised a total of EUR 402 million since its launch in 2014, now holding more than EUR 2.6 billion in deposits.

This has seen it collaborate with the UK government to increase lending to SMEs as part of the country’s coronavirus crisis business support packages, including EUR 330 million under the government-backed Coronavirus Business Interruption Loan Scheme (CBILS) and direct to its customers under its own CBIL and Bounce Back Loan Schemes.

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Keywords: UK, challenger banks, banks, Starling, Harry McPike, JTC, Merian Chrysalis Investment Company, SMEs, coronavirus, COVID-19, Coronavirus Business Interruption Loan Scheme, CBILS, Bounce Back Loan Schemes
Categories: Banking & Fintech
Countries: United Kingdom
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Banking & Fintech

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