Starling has also raised a further GBP 15 million from its existing investor, bringing the total to GBP 75 million. The funding will support increased investment in Starling’s financial products in retail and SME banking as well as banking services in the UK. It will also enable the digital banking platform to accelerate its global expansion, starting in Europe.
The expansion will build on Starling’s growth in the UK, 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.
Merian Chrysalis is an investment company advised by asset management company Merian Global Investors, which was formerly named Old Mutual Global Investors. Merian Global Investors has a total of GBP 28.9 billion under management (as at 31 December 2018).
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