Starling bank has raised £60mn from investors to fund expansion.
The funds were raised from existing investors, Merian Global Investors and JTC.
This brings the total raised by Starling to £323mn.
Starling will also award shares to 800 employees.
What does this mean?
The funding will be used to focus on expansion across Europe, as well as growing its business banking service – and the decision to award shares illustrates the bank’s strong commitment to its employees.
CEO Anne Boden said: “We’re constantly innovating and have big ambitions to turn Starling into a world-leading bank. We could not do this without the support of our 800 employees, who work so hard to provide a better banking experience.”