Starling Bank surpasses £1bn valuation with latest funding round

The fintech firm led by Anne Boden has raised more than £270m from investors as it prepares for expansion into the European market.

Fintech challenger Starling Bank has raised £272m in a funding round that values the company at £1.1bn.

The Series D round has been led by Fidelity Investments, with Qatar Investment Authority, railways pension scheme manager Railpen, and Millennium Management all participating in the raise.

The London-based bank, which has 2m accounts, plans to invest heavily in growth through both international expansion and acquisitions.

Led by former AIB chief operating officer Anne Boden, Starling Bank has been one of the core players in the British fintech scene along with Monzo and Revolut. But unlike its rivals, Starling has focused only on its home market so far.

That is about to change it is pursuing a banking licence from the Central Bank of Ireland that would allow it to operate around the EU.

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Source: Starling Bank surpasses £1bn valuation with latest funding round