The last twelve months have been rather good for Starling Bank. While its flashier rivals have struggled during COVID-19, Starling is now profitable, one of just a handful of FinTechs to achieve this feat. It has also strengthened its claim to be Britain’s best bank, having topped Which?’s latest best and worst banks list. But Starling now finds itself at a crossroads. What path will it take? And can it keep its edge?
Anne Boden, Starling’s enigmatic CEO & founder, has talked about wanting to float her bank, but it’s also clear that Starling is on the shopping list of some financial goliaths. Both Lloyds Banking Group, the UK’s biggest bank, and JP Morgan, which is set to launch a digital bank in the UK this year, have been rumoured buyers. Starling’s Board is also currently understood to be in talks with US asset manager Fidelity about a £100 million investment, as part of a larger fundraise, which would keep Boden’s bank independent for now.
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