Starling Bank

Starling Bank closes £130.5m internal fundraise

Starling Bank has completed an internal fundraise of £130.5m at a pre-money valuation of over £2.5bn.

All existing investors participated in the internal round, including JTC, Fidelity Management & Research Company, RPMI Railpen, Qatar Investment Authority and Goldman Sachs Growth Equity.

The funding will enable the bank to continue its growth and its targeted M&A strategy, as the bank is currently looking at several potential acquisition deals with lending originators.

This follows the purchase of Fleet Mortgages in July 2021 in a £50m cash and share deal, making it the sole funder of future originations for the BTL lender.

Currently, Starling Bank has surplus capital of nearly £400m.

The bank, which launched its app in May 2017, has opened nearly three million accounts to date, including over 450,000 SME accounts.

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