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Starling Bank expands to Ireland as it eyes Europe

Starling Bank

London-based Starling Bank has announced its expansion to the Republic of Ireland.

The challenger bank, which has raised $70m in funding, has received approval from the Bank of England to operate in Ireland, under the EU’s passporting arrangements.

Today’s news comes less than a year since Starling Bank first received a UK banking license.

The FinTech firm, which already offers current accounts, said in a statement that its expansion to Ireland was the first stop in its quest to provide its services across other European markets.

Anne Boden, CEO and founder of Starling Bank, said: “The aim of Starling was always to ensure that the whole world could benefit from the opportunity of a healthy financial life.

“Being granted our passport into The Republic of Ireland is an exciting next phase in our journey. It not only means we can move into Ireland, but that we can start providing that much needed step change in banking globally – so everyone can benefit from a more positive relationship with their money.”

The news, which comes just over a year since the UK voted for Brexit, comes as competition is heating up in the challenger bank landscape, as companies are increasingly seen to leverage technology in an attempt to transform the banking industry.

Firms operating in the space include Monzo, and Durham-based Atom Bank – which recently announced a somewhat unlikely partnership with tech entrepreneur and musician Will.i.am. The firms have raised $44.93m and $268.14m respectively.