Starling Bank has revealed that it has raised £60m from its existing investors Merian Global Investors and JTC.
The investment will bring the total raised by Starling to £323m and follows two funding rounds of £105m in aggregate led by Merian in 2019.
The new funding will enable the bank to continue its expansion.
In addition, Starling will also award shares to all 800 employees.
Anne Boden, founder and chief executive at Starling Bank (pictured above), said: “The support of our existing investors represents a huge endorsement of our business strategy, as we continue to ramp up our growth.
“We could not do this without the support of our 800 employees, who work so hard to provide a better banking experience for our customers, giving them more control over their finances.”
Nick Williamson, co-manager at Merian Chrysalis Investment Company Limited, said: “Starling has continued to innovate and has already established itself as one of the most highly regarded UK challenger banks.”
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