UK challenger bank Starling raises $376M, now valued at $1.9B

08 Mar, 2021

UK challenger bank Starling raises $376M, now valued at $1.9B
Photo by Kelly Sikkema on Unsplash

– Starling Bank, a U.K.-based challenger bank, raised £272m funding.
– The round was led by Fidelity Management & Research Company, with Qatar Investment Authority (QIA); RPMI Railpen (Railpen), the investment manager for the £31 billion Railways Pension Scheme; and global investment firm Millennium Management also participating.
– The company has now passed 2 million accounts, with 300,000 business accounts among them.
– Gross lending has passed £2 billion, with deposits at £5.4 billion.
– The company plans to use the funding to expand its lending operations in the U.K., expand into other parts of Europe and make some strategic acquisitions.

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