29 May 2020

Starling gets £40mn boost

Written By FinTech Alliance in Investment

Starling gets £40mn boost

UK challenger bank Starling has raised £40mn from existing investors.

In Brief:

  • The round was led by JTC and Merian Chrysalis Investment Company Limited.

  • This brings Starling’s total raised this year to £100mn.

  • Starling has 1.4mn current accounts, including 155,000 business accounts.


What does this mean?

Since launch, the bank has raised £363mn in total. Starling has lately been in the news as part of the UK Government’s various schemes to help SMEs through the Covid-19 crisis. SMEs are in many ways the bank’s bread and butter since it introduced its business product, and when Bounce Back Loans went live on the platform it lent out £90mn in one day and added 1,900 new business accounts.

The new finance has reportedly been invested on the understanding of just how important Starling’s support is to SMEs and will continue to be as the we come out of the crisis.

Read more here.

 

Up Next ...
04 November 2024

Finance apps are in ‘need of improvement’, says a quarter of Brits

A recent survey by UK mobile specialists Apadmi reveals that ...

04 November 2024

Barclays acquires Tesco Bank

Barclays Bank UK PLC has completed the acquisition of Tesco ...

04 November 2024

fundcraft Increases Series A to €11 Million Demonstrating Strong Product-Market Fit

fundcraft has increased its Series A funding to €11 million, ...

01 November 2024

Mollie and Hyvä announce strategic partnership, launching Hyvä Commerce

Mollie, a leading financial service provider, has partnered with Hyvä, ...

More in Investment

Uber to back Nigerian start-up Moove in up to $100mn round

26 February 2024

Funding round could push Moove’s market value to $750mn In brief:- ...

Simetrik secures $55mn in Series B to bolster platform globally

26 February 2024

Simetrik is a financial automation platform based in Colombia. In brief:- ...

FinTech startup Pontera raises $60mn

07 December 2023

Pontera, formerly known as FeeX, has successfully secured $60 million ...

FinTech-focused Canapi Ventures raises $750mn

07 December 2023

Fund II represents a 15% increase in funds and a ...

White Papers Investment

Investment vehicles in private markets

17 November 2023

How investment vehicles are revolutionising private markets and bridging the gap in democratisation...

White Papers Investment

The Three-Body Problem: Finding the New Stable Points in Venture Capital

12 June 2023

William Edwards Deming once famously said, “It is not necessary to change. Survival isn’t mandatory....

White Papers Investment

FT Partners Quarterly FinTech Insights

12 June 2023

FT Partners’ FinTech Insights Reports are published on a quarterly basis, along with a comprehensive...

Articles Investment

Innovate Finance on: 2022 Summer Investment Report

19 July 2022

In the first half of 2022 total capital invested in FinTech globally reached $59bn – flat year-on-ye...

There are no Events in this category