Starling founder sells stake at £1.7bn valuation
Summarised from 2 outlets · Updated 20 Oct, 13:08 · Archive
Starling Bank founder Anne Boden has sold her remaining 2.7 per cent stake at a £1.7bn valuation, well below the £4bn the firm sought in a secondary share sale last year.
Starling Bank founder Anne Boden has sold her remaining stake in the digital lender at a valuation far below what the firm was seeking. She offloaded her 2.7 per cent holding at a £1.7bn valuation, according to reports, compared with the £4bn Starling targeted in a secondary share sale last year.
Boden founded Starling in 2014 and stepped down as chief executive in May 2023. She has now begun work on a new artificial intelligence project called 'Moonshot', recruiting software engineers with banking technology backgrounds.
The cut-price valuation underscores investor concerns about Starling's financial performance. The fintech's pre-tax profit fell three per cent to £217m, while revenue slipped 5.6 per cent to £887m. The Bank of England's declining base rate was cited as a main headwind affecting results.
How it is being reported
- Starling founder Anne Boden offloads stake at slashed £1.7bn valuationStarling founder has offloaded her remaining stake in the UK fintech at a valuation far below the price the firm was targeting in its latest secondary share sale. Anne Boden has sold her remaining 2.7 per cent stake in Starling as she begins work on a new AI project. She sold the stake at a [...]City AM · 20 Oct, 12:58
- Starling Bank founder sold last shares at cut-price £1.7bn valuationThe founder of Starling Bank offloaded her final shares in the digital lender at a valuation less than half the price it was reportedly seeking in its last major secondary share sale.Sky News Business · 20 Oct, 11:05
In this story: Anne Boden · Starling Bank · UK · Bank of England · Allied Irish Bank · Lloyds · Jupiter
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