"The founder of Starling Bank has reduced her shareholding in the fintech, as new filings reveal that Anne Boden has cut her stake during a secondary share sale that valued the business at up to £4 billion. Boden, who launched Starling in 2014 after senior roles at Allied Irish Banks and Lloyds, has lowered her holding to around 2.7 per cent from a previous 4.3 per cent, according to the disclosures."
"The filings show that Chrysalis Investments, which counts Starling as 53 per cent of its portfolio, retained a stake of more than 10 per cent. The Guernsey-based investment trust has been a long-term backer of Starling, leading a £30 million funding round in 2019 and investing a further £20 million in 2023. Starling's largest shareholder remains billionaire Harald McPike, who continues to hold more than 40 per cent of the company through his investment vehicle JTC Holdings."
"Declan Ferguson, Starling's chief financial officer, has said the bank has not yet formed a "concrete view" on the most suitable market for a listing, describing the decision as "in flux". That contrasts with comments made in 2024 by former interim chief executive John Mountain, who said the fintech was "very committed" to a London listing and described the City as its "natural home"."
Anne Boden has reduced her stake in Starling Bank to about 2.7% from 4.3% through a secondary share sale that valued the business at up to £4 billion. The secondary sale was designed to let existing shareholders sell down stakes while enabling new investors, with the bank targeting a valuation between £3.5 billion and £4 billion. Chrysalis Investments retained more than a 10% holding and previously led funding rounds in 2019 and 2023. Billionaire Harald McPike remains the largest shareholder with over 40%. Starling's senior team has signalled increased openness to a US flotation, and the chief financial officer said the listing decision remains "in flux", contrasting with earlier comments positioning London as the bank's "natural home".
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]