Starling Bank is an internet-first bank offering digital banking services for consumers and businesses. Its mobile-first platform provides deposit accounts, money transfers, lending, prepaid and corporate cards, and bill payments.
The bank operates entirely online through Android and iOS applications, focusing on transparency, speed, and real-time financial insights.
What Is Starling Bank and What Does It Do?
Starling Bank, founded in 2014, is a London-based (United Kingdom) digital bank.
The company provides personal, joint, business, and SME banking services, integrating payments, lending, and accounting tools into a single mobile platform.
Starling Bank employs 3,231 employees as of March 2024 and serves millions of retail and business customers across the UK.
How Much Funding Has Starling Bank Raised?
1. Series B
- Amount Raised: £10M
- Motivation: To support early-stage growth and product development.
2. Series C
- Amount Raised: £75M
- Lead Investors: Chrysalis Investments, Merian Global Investors
- Motivation: To expand product offerings and scale operations.
3. Grant Funding
- Amount Raised: £100M
- Lead Investors: Capability and Innovation Fund
- Motivation: To support innovation in UK digital banking.
4. Venture Round
- Amount Raised: £30M
- Lead Investors: Chrysalis Investments
- Motivation: To accelerate customer acquisition and infrastructure scaling.
5. Venture Round
- Amount Raised: £60M
- Motivation: To strengthen capital base and operational resilience.
6. Venture Round
- Amount Raised: €44.3M
- Lead Investors: Chrysalis Investments, JTC
- Motivation: To enhance financial stability and regulatory capital.
7. Series D
- Amount Raised: £272M
- Lead Investors: Fidelity Investments
- Motivation: To expand lending, product depth, and market reach.
8. Series D
- Amount Raised: £50M
- Lead Investors: Goldman Sachs
- Motivation: To support continued growth and balance sheet strength.
9. Series D
- Amount Raised: £130.5M
- Lead Investors: Goldman Sachs
- Motivation: To build acquisition capacity and long-term growth reserves.
Total Funding Raised: $1.06 Billion
Current Valuation: $3.15 Billion (as of Apr 2022)
Latest Funding Date: April, 2022
Key Investors
1. Fidelity Investments
- Details: A global asset management firm with a strong presence in growth-stage financial services companies.
- Investment Focus Areas: Financial services, technology, consumer platforms.
- Notable Investments: Starling Bank, Stripe, SpaceX, Airbnb.
2. Goldman Sachs
- Details: A leading global investment bank and financial services firm.
- Investment Focus Areas: Banking, fintech, capital markets, technology.
- Notable Investments: Starling Bank, Uber, Spotify, Nubank.
3. Merian Global Investors
- Details: An investment management firm specializing in long-term capital growth strategies.
- Investment Focus Areas: Financial services, public and private markets.
- Notable Investments: Starling Bank, UK fintech portfolios.
4. Chrysalis Investments
- Details: A growth capital investment firm focused on late-stage private companies.
- Investment Focus Areas: Technology-enabled financial services.
- Notable Investments: Starling Bank, Klarna, Wise.
Where Is Starling Bank’s Headquarters?
Starling Bank is headquartered in London, United Kingdom, operating at the center of Europe’s fintech ecosystem.
What’s Next for Starling Bank?
Starling Bank is focused on expanding SME banking, increasing lending capabilities, and pursuing selective acquisitions. With a strong capital base and profitable operations, the bank aims to deepen its position as a leading digital-first challenger bank in the UK.
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