Starling Bank, a London, UK-based digital banking platform, raised £75m in Series C funding.
The round was led by Merian Global Investors, including the Merian Chrysalis Investment Company Limited, with participation from an existing investor.
The company intends to use the funds to invest in financial products in retail and SME banking as well as in banking services in the UK and to accelerate its global expansion, starting in Europe.
Founded by former Allied Irish Banks COO, Anne Boden, in January 2014, Starling Bank is a digital bank offering personal, business, joint and euro current accounts. It also operates a Marketplace as well as Payment Services for banks, e-money institutions, government and corporates, and a Banking-as-a-Service platform. Since launching its app in May 2017, Starling has built up a customer base of 460,000 personal current accounts and 30,000 SME accounts. The bank expects to hit one million customers by the end of 2019.
Starling is a fully licensed and regulated bank.