The new funding is expected to support Starling’s growth
Starling Bank has announced a £50 million investment by Goldman Sachs Growth Equity. The investment is an extension of the bank’s oversubscribed £272 million Series D funding round announced in March 2021, which valued it in excess of £1.1 billion pre-money. This takes the total raised in the Series D round to £322 million.
According to the report, Starling now has more than 2 million current accounts, including 350,000 business accounts. Its deposit base has increased from approximately £1 billion just over a year ago, to now more than £6 billion.
The transaction remains subject to regulatory approval.
We’ve reported that to enhance money transfers, JP Morgan turns to the blockchain.