Starling Bank secures £272m Series D funding led by Fidelity Investments to fuel European expansion and lending growth
The Series D round was led by Fidelity Investments alongside Qatar Investment Authority, Railpen, and Millennium Management.
Starling Bank is a digital bank based in the UK offering personal and business accounts, alongside lending products and banking services. Headquartered in London, the bank operates a proprietary technology platform that powers its own operations and offers a marketplace of financial services.
Starling Bank has secured £272m in a Series D funding round led by Fidelity Management and Research Company, bringing a valuation of £1.1bn pre money. The round also drew participation from Qatar Investment Authority, RPMI Railpen, and Millennium Management.
The capital will support continued growth, fund a targeted expansion of lending within the UK, back the launch of operations in Europe, and provide firepower for anticipated mergers and acquisitions. The announcement follows four consecutive months of profit for the digital bank, which reports strong customer acquisition and deposit growth.
Rothschild and Co acted as exclusive financial advisor, while Norton Rose Fulbright served as legal counsel for the transaction, which remains subject to regulatory approval.
From the founder
"Digital banking has reached a tipping point. Customers now expect a fairer, smarter and more human alternative to the banks of the past and that is what we are giving them at Starling as we continue to grow and add new products and services. Our new investors will bring a wealth of experience as we enter the next stage of growth, while the continued support of our existing backers represents a huge vote of confidence."
Anne Boden
Founder and CEO at Starling Bank
Use of funds
- 01Expand into international markets
- 02Fund acquisitions
Investors
Categories
About the company
Starling Bank
Starling Bank provides digital banking and payment services for personal and business customers.