#secondary-share-sale

#secondary-share-sale

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.

Belgian business software company Odoo, also a unicorn, has reached a fresh milestone. Growth investor General Atlantic has increased its stake in the firm, buying additional shares from regional backer Wallonie Entreprendre and pushing Odoo's valuation to roughly €7 billion. This move isn't a typical funding round where a company raises new capital. Instead, it's a secondary transaction: General Atlantic bought existing shares that were previously held by Wallonie Entreprendre, the investment arm of Belgium's Walloon region.