Starling Bank secures £50m Series D follow on investment from Goldman Sachs
Goldman Sachs backs the digital bank in an extension to its recent Series D round.
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 £50m in an extension to its Series D funding round from Goldman Sachs Growth Equity, bringing the total raised in the round to £322m. The fresh capital follows an oversubscribed £272m raise in March 2021 which valued the bank above £1.1bn pre-money. The digital bank currently holds more than two million current accounts and has seen its deposit base grow past £6bn. The bank will use the capital to support its continued growth as it approaches its first full year in profit.
Investor perspective
"Starling is one of the leading and most innovative digital banks in the UK, with an ambitious technology-first leadership team and addressing a deep market opportunity. We are delighted to be supporting their growth with this investment and believe the company has sustainable long-term earnings potential."
James Hayward
Managing Director, Goldman Sachs
Use of funds
- 01Fund acquisitions
- 02Expand into international markets
Investors
Categories
About the company
Starling Bank
Starling Bank provides digital banking and payment services for personal and business customers.