Online Bank Starling Secures GBP50 Million Investment From Goldman Sachs
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
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
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(END) Dow Jones Newswires
April 19, 2021 04:33 ET (08:33 GMT)
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