Starling Bank IPO: Everything you need to know

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Everything you need to know Starling Bank IPO

British digital bank Starling is one of the top four UK companies expected to go public in 2023. Headquartered in London, UK, Starling offers mobile commercial banking services, same-day payment services, and real-time spending intelligence.

Alongside Starling, UK companies Arm Holdings, Revolut, and Zopa could also make their IPO debut this year.

 

Starling Bank company stats

Founded 2014
Headquarters London, United Kingdom
Number of employees 2,000
Revenue 2021 £188 million
Stock Exchange London Stock Exchange
Potential Valuation -

Source: Starling Bank

 

How does Starling Bank make money?

Founded in 2014, by British female entrepreneur Anne Boden, Starling is considered a rare British “unicorn” in the fintech industry. Boden had a long career in corporate banking, having worked for the British bank Lloyds.

Starling has no physical branches but is a platform that is accessed primarily via its mobile app and the company’s website. It makes money via subscriptions, interest payments, interchange fees, and other fees such as transfers, overdrafts, referrals, and licensing.

The digital bank gas opened more than two million accounts, since launching, including more than 300,000 small business accounts. Its total gross lending exceeds £2 billion, and deposits top £5.4 billion.

Since its inception, Starling has amassed several industry awards. In 2018 it was voted Best British Bank by Smart Money People’s Best British Bank Awards, while in 2021 and 2022 it won The Which? Banking Brand of the year.

Starling recently opened a new office in Manchester, intending to create 1,000 jobs in the region.

 

The IPO: When, where and what to expect

In 2022 Starling reported a first full year of profitability, posting a pre-tax profit of £32.1 m. It hasn’t ruled out an IPO in 2023 but has also said that it’s not in immediate need of capital, according to UK Tech News.

Its existing investors include Goldman Sachs, Fidelity Management & Research Company, and the Qatar Investment Authority. Starling has raised £130.5 million “to build a war chest for acquisitions” according to Financial Times, doubling its valuation to more than £2.5 billion.

If the IPO happens, it could take place on the London Stock Exchange, which is the default option for a UK-based company.

 

3 steps to trade Starling IPO with Axi

An Initial Public Offering (IPO) is an investor’s first chance to gain exposure to an organisation. An IPO is an important milestone for a company looking to raise capital and an opportunity for investors to get involved in a hopefully growing business.

With Axi you can get exposure to Starling IPO as soon as it’s listed on a specific exchange and prices from the exchange become available to our liquidity providers.

  1. Login to your live MT4 trading account (sign up with Axi if you don’t have one)
  2. Navigate to market watch, right-click, and select ‘show all’. Search for Starling Bank.
  3. Choose your position and size and go long or short on share prices. Don’t forget to set risk management tools like a stop loss and take profit order. 

 

Sources: Financial Times, UK Tech News

 

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The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.



Axi Team

Axi Team

The Axi team is full of people with decades of financial industry experience and knowledge of almost every aspect of trading. The Axi team blog, in addition to regular posts from our daily market analysis contributors, is a place to share wider insights and ideas. In this section, you’ll find posts about everything from forex education and helpful hints for new traders to product updates and important market announcements.


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