Online Bank Starling Secures GBP50 Million Investment From Goldman Sachs
April 19 2021 - 4:48AM
Dow Jones News
By Joe Hoppe
Starling Bank said Monday that Goldman Sachs Growth Equity has
invested 50 million pounds ($69.2 million) in the bank, to support
its continued growth.
The U.K. digital bank said the investment is an extension of its
oversubscribed GBP272 million Series D funding round first launched
in March, which valued it at an excess of GBP1.1 billion pre-money.
The investment takes the total raised in the Series D round to
GBP322 million.
Starling said it now holds a 6% share of the U.K's small and
medium enterprise banking market, and is on course to report its
first full year of profit by the end of its next fiscal year.
"Securing the support of another global financial heavyweight
demonstrates the strength of demand from investors and represents
yet another vote of confidence in Starling. Goldman Sachs will
bring valuable insight as we continue with the expansion of lending
in the U.K., as well as our European expansion and anticipated
mergers and acquisitions," founder and Chief Executive Anne Boden
said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
April 19, 2021 04:33 ET (08:33 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Goldman Sachs (NYSE:GS)
Historical Stock Chart
From Apr 2023 to Apr 2024