The private equity division of Goldman Sachs has invested £50 million in Starling Bank in what the digital-only lender said was likely to be its last fundraising before a stock market float.
The move by the Wall Street giant adds to the £272 million that the digital-only bank attracted from investors led by Fidelity last month. Starling plans to use some of the money to make an acquisition this year or next.
Anne Boden, 61, Starling’s founder and chief executive, said that the group was not planning to tap investors again and was focused next on joining the stock market, which she said could happen late next year or early in 2023. She said Goldman’s backing was “a great endorsement of our product”.