Starling Bank reportedly gearing up to raise £200m funding round

By Aisling Finn on Friday 6 November 2020

Digital Banking

The digital bank has raised £363m to date, including a £100m grant from the RBS competition fund.

Starling Bank reportedly gearing up to raise £200m funding round
Image source: Anne Boden/Starling Bank

Starling Bank is reportedly looking to raise £200m in its latest fundraising effort, according to TechCrunch. 

Starling has also reportedly hired independent financial advisor Rothschild Co. to help it bolster its efforts to raise fresh capital. 

To date, Starling has raised £363m, including a £100m grant from the RBS competition fund.

Starling Bank looks set to be the first of the digital challengers, other than OakNorth, to reach profitability potentially as soon as Christmas. 

Anne Boden has also previously mentioned that she might take her bank to IPO, reportedly within the next few years and, in AltFi’s Alternative Lending State of the Market Report 2020, Starling’s chief strategy officer, Declan Ferguson revealed that the bank has been eyeing up some potential acquisitions as it’s 2020 goes from strength to strength. 

If the chance of Starling’s biggest funding round to date wasn’t enough to drum up activity for the bank, CEO and founder Anne Boden released her explosive second book this week, Banking On It. 

Banking On It follows how Starling’s early days were marred with disagreements and hurdles, which eventually led to the founding of rival Monzo, and is the first time that either Boden or Tom Blomfield, founder of Monzo, has spoken about the split.  

Read More: Banking On It review: “No one can label you a failure when what you are trying to do is audacious.” 

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