Total amount raised
$1.1 Billion
Latest funding date
4/1/2022
Location
Starling Bank has successfully raised funds through 11 funding rounds, with key investors including Goldman Sachs and Harald McPike. The most recent funding round was a Series D, involving five investors.
Keep reading to explore the intricacies of Starling Bank's fundraising journey and the investors backing this innovative platform.
What Is Starling Bank?
Starling Bank, based in London, England, is a prominent player in the banking and financial services industry. Founded with the vision of revolutionizing banking, it offers a range of personal, joint, and business accounts. The company operates from the 5th Floor London Fruit And Wool Exchange, 1 Duval Square, London, United Kingdom, E1 6PW.
With a workforce of 1001-5000 employees, Starling Bank is committed to providing innovative banking solutions. The bank emphasizes security and customer support, offering features like instant notifications, spending insights, and fee-free transactions abroad. It is fully regulated and protected by the Financial Services Compensation Scheme (FSCS).
How Much Funding Has Starling Bank Raised?
- Series B
- Amount Raised: GBP 10,000,000
- Date: April 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the bank's growth and expansion plans.
- Series C
- Amount Raised: GBP 75,000,000
- Date: February 2019
- Lead Investors: Chrysalis Investments, Harald McPike, Merian Global Investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the bank's technological infrastructure and expand its market presence.
- Grant
- Amount Raised: GBP 100,000,000
- Date: February 2019
- Lead Investors: Capability and Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the bank's innovation and development initiatives.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: March 2019
- Lead Investors: Future Fifty
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources for growth.
- Series Unknown
- Amount Raised: GBP 30,000,000
- Date: October 2019
- Lead Investors: Chrysalis Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the bank's product offerings and market reach.
- Series Unknown
- Amount Raised: GBP 60,000,000
- Date: February 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the bank's growth and operational expansion.
- Series Unknown
- Amount Raised: EUR 44,300,000
- Date: May 2020
- Lead Investors: Chrysalis Investments, JTC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the bank's technological capabilities and market presence.
- Series D
- Amount Raised: GBP 272,000,000
- Date: March 2021
- Lead Investors: Fidelity
- Valuation at Round: GBP 1,100,000,000
- Motivation Behind the Round: To support the bank's growth and expansion plans.
- Series D
- Amount Raised: GBP 50,000,000
- Date: April 2021
- Lead Investors: Goldman Sachs
- Valuation at Round: GBP 1,100,000,000
- Motivation Behind the Round: To support the bank's growth and expansion plans.
- Series D
- Amount Raised: GBP 130,500,000
- Date: April 2022
- Lead Investors: Goldman Sachs
- Valuation at Round: GBP 2,500,000,000
- Motivation Behind the Round: To continue growth and build a war chest for acquisitions.
Total Amount Raised: GBP 871,800,000
Current Valuation: GBP 2,500,000,000
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It has been a key investor in Starling Bank, participating in multiple funding rounds.
- Investment Focus Areas: Investment banking, securities, investment management, financial services.
- Notable Investments: Uber, Spotify, WeWork.
- Fidelity
- Details: Fidelity is a multinational financial services corporation known for its investment management and financial planning services. It has been involved in Starling Bank's recent funding rounds.
- Investment Focus Areas: Mutual funds, retirement services, wealth management, life insurance, brokerage services.
- Notable Investments: Alibaba, Facebook, Tesla.
- Qatar Investment Authority
- Details: The Qatar Investment Authority is the sovereign wealth fund of the State of Qatar, specializing in domestic and foreign investment. It has participated in Starling Bank's funding rounds.
- Investment Focus Areas: Real estate, infrastructure, financial institutions, technology.
- Notable Investments: Volkswagen, Barclays, Harrods.
- RPMI Railpen
- Details: RPMI Railpen is the investment manager for the Railways Pension Scheme, one of the largest pension funds in the UK. It has been a consistent investor in Starling Bank.
- Investment Focus Areas: Pension fund management, real estate, private equity, infrastructure.
- Notable Investments: Various UK-based infrastructure and real estate projects.
- Harald McPike
- Details: Harald McPike is a private investor with a focus on financial services and technology. He has been a significant backer of Starling Bank.
- Investment Focus Areas: Financial services, technology.
- Notable Investments: Various private equity and venture capital investments.
What's Next for Starling Bank?
Starling Bank stands poised for significant growth, with opportunities in acquisitions and market expansion. The bank's recent £130 million raise, bringing its valuation to £2.5 billion, sets the stage for strategic acquisitions, particularly in the lending sector. This move could substantially increase its market share and operational capabilities.
Future fundraising opportunities are promising, with a potential IPO in 2023 that could attract further capital and enhance market presence. However, the bank must navigate challenges such as competition from other digital banks and regulatory hurdles. Successfully integrating acquisitions and maintaining growth momentum will be crucial for Starling Bank's continued success.
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