Starling Bank Raises £40M in Funding

Starling, a London, UK-based UK digital bank, raised £40m in funding.

The round was led by JTC and Merian Chrysalis Investment Company Limited.

The investment follows a £60m investment in February 2020, bringing the total raised by Starling in 2020 to £100m. Since its launch in 2014, the bank has raised £363m.

Founded by former Allied Irish Banks COO in 2014, Starling Bank is a digital bank whose app offers personal, business, joint and euro current accounts on Android and iOS. The marketplace offers customers in-app access to a selection of third party financial services. Starling also offers B2B banking and payments services. With offices in Southampton, Cardiff and Dublin, it is a fully licensed and regulated bank. The bank has almost £500 million of SME lending on its balance sheet, with further commitments raising the total to almost £1 billion. It has more than 1.4 million current accounts, including 155,000 business accounts. The deposit base now holds more than £2.4 billion on deposit.



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