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Finance & Economics

UK digital bank secures multimillion investment from Goldman Sachs

Apr 19, 2021

The new funding is expected to support Starling’s growth

Starling Goldman Sachs

UK digital bank secures multimillion investment from Goldman Sachs. Source: youtube.com

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.

Securing the support of another global financial heavyweight demonstrates the strength of demand from investors and represents yet another vote of confidence in Starling. Goldman Sachs will bring valuable insight as we continue with the expansion of lending in the UK, as well as our European expansion and anticipated M&A
Anne Boden, founder and CEO of Starling Bank

The transaction remains subject to regulatory approval.

We’ve reported that to enhance money transfers, JP Morgan turns to the blockchain.

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