Starling Bank, the U.K.-based challenger bank founded by banking veteran Anne Boden, has raised an additional £30 million in funding.
In what was likely already agreed follow-on funding, perhaps contingent on milestones being met, previous backer Merian Chrysalis led the round with an investment of £20 million. JTC, another of Starling’s existing investors, also participated, adding a further £10 million.
Starling says the new funding will support increased investment in its consumer and SME bank accounts, as well as its B2B banking services. The capital will also be used to accelerate expansion into Europe. (more…)