Starling Bank, the UK-based neobank led by fintech star Anne Boden, has raised £130.5 million in a round that the company claims will allow it to continue its expansion through acquisitions. The bank was valued at more than £2.5 billion after the raise. The money came from Starling’s current investors, who all took part in the investment round. JTC Group is the bank’s biggest single stakeholder, followed by Goldman Sachs, the Qatar Investment Authority, Fidelity Management and Research Company, and Chrysalis Investments. According to sources, Starling’s balance sheet has roughly £400 million in excess capital that can be used for M&A, and the bank is looking at targets in the lending sector. Starling raised £322 million in 2021, with £272 million coming from a Series D financing led by Goldman Sachs and others.
Starling Bank grows acquisition war chest after fundraising