Starling raises £40m to support SMEs throughout COVID-19

A London-based digital bank has closed a multi-million pound investment round in order to expand its proposition.

Starling Bank has raised £40m in a funding round led by JTC and Merian Chrysalis Investment Company Limited.

The investment from Starling’s existing investors follows a £60m investment in February 2020, bringing the total raised by Starling in 2020 to £100m.

Since its launch in 2014, the bank has raised £363m in investment, and now has more than 1.4 million current accounts including 155,000 business accounts.

The new funding will enable the bank to continue its growth, as well help it to provide support to small business customers who have been impacted by COVID-19.

Anne Boden, founder and chief executive of Starling Bank, commented: “This additional funding from our existing investors demonstrates their commitment both to Starling and to our small business and personal customers who need our support now more than ever.”

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