Starling Bank has raised £270mn in its largest funding round to date.
In Brief:
The round is led by Fidelity Management & Research (FMR).
It’s set to include the Qatar Investment Authority (QIA), Railpen and MIllennium Management.
QIA is one of the world’s largest sovereign wealth funds.
What does this mean?
The round, to be announced today, reportedly exceeds its target of £200mn. As Sky News reports, the pre-money valuation for the deal was £1.1bn, “confirming Starling’s status as the newest British banking ‘unicorn’.”
