Starling Bank Closes £60 Million Funding Round

UK digital challenger bank, Starling, has raised £60 million led by Merian Global Investors; the funds will be used to grow their business banking service as well as their long-planned international expansion; this will likely be the first of many large funding rounds in the UK digital banking sector as Monzo, Revolut and Monese are all in talks with investors about large equity investments; Starling will begin their international expansion in Ireland later this year after they put off their expansion plans due to Brexit-related uncertainty; unlike many of their digital banking peers they are not looking to expand to the U.S., preferring to focus on the European market. Financial Times

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