Starling completes £130.5m fundraise

British digital bank Starling Bank has completed an internal fundraise of £130.5m at a pre-money valuation of more than £2.5 billion.

Starling Bank is a fully-licensed and regulated bank that aims to give people a fairer, smarter and more “human alternative to the banks of the past.”

The bank offers personal, business, joint, euro and dollar current accounts alongside a children’s card. Starling also offers a B2B Banking as a Service and Software as a Service proposition, based on the proprietary technology platform that it uses to power its own bank.

The Starling Marketplace offers customers in-app access to a selection of third party financial services. Headquartered in London, the bank has offices in Southampton, Cardiff and Dublin.

“This will enable us to continue our growth and to build a war chest for acquisitions. We are looking at a number of potential targets,” a spokesperson said.

In July 2021, Starling acquired specialist buy-to-let mortgage lender Fleet Mortgages in a £50m cash and share deal. The bank said it hoped to expand into the mortgage sector, a part of its wider plan to expand lending, including through further mergers and acquisitions.

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