CEO : Anne Boden
Founder: Anne Boden
Keywords: Digital bank, business bank
Who is it for: individuals, SMEs
Total Funding: $307.6m
Latest Funding: $131M, Grant - Capability & Innovation Fund, Feb 2019 / $75M, Feb 2019, Series C
HQ: UK, London
“The digital bank championing SMEs and cash deposits.“
Mobile-only bank Starling now claims just under 800,000 customers, of which around 60,000 are small business accounts. Total deposits are on track to reach £1Bn by year end and Starling is in the process of applying for an Irish banking licence to wider European expansion.
In March 2019, Starling was named Best British Bank at the British Bank Awards for the second year in a row. And In July, it launched multi-owner accounts for business, with a clear objective to reshape the SME banking market.
Starling offers a full business account as well as a sole trader account, both of which have no monthly fees (at present). As well as offering overdrafts, it also has a built-in longer term loan facility.
Starling’s partnership with the Post Office also allows customers to deposit physical cash.