The new funding is expected to support Starling’s growth

UK digital bank secures multimillion investment from Goldman Sachs. Source: youtube.com

Starling Bank has announced a ￡50 million investment by Goldman Sachs Growth Equity. The investment is an extension of the bank’s oversubscribed ￡272 million Series D funding round announced in March 2021, which valued it in excess of ￡1.1 billion pre-money. This takes the total raised in the Series D round to ￡322 million.

According to the report, Starling now has more than 2 million current accounts, including 350,000 business accounts. Its deposit base has increased from approximately ￡1 billion just over a year ago, to now more than ￡6 billion.

The transaction remains subject to regulatory approval.

We’ve reported that to enhance money transfers, JP Morgan turns to the blockchain.

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