UK mobile bank raised financing to fund its expansion

The bank expects to hit one million customers by the end of 2019

UK mobile bank raised financing to fund its expansion. Source: facebook.com

Digital banking platform Starling Bank has raised £60 million in a Series C funding round led by Merian Global Investors.

Starling has also raised a further £15 million from its existing investor, bringing the total to £75 million.

The funding will enable the digital banking platform to accelerate its global expansion, starting in Europe.

Since launching its app in May 2017, Starling has built up a customer base of 460,000 personal current accounts and 30,000 SME accounts. The bank expects to hit one million customers by the end of 2019.

Building our platform and launching in the UK to provide genuine choice to retail, SME and Banking-as-a-Service customers was just the first step. Our ambition is to use our technology to build a next-generation global, digital banking platform, starting with our launch across Europe this year
Anne Boden, founder and chief executive of Starling Bank

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