United States based financial services provider and investment bank Goldman Sachs Group Inc. (GS) is pumping in an investment of $69 million (50 million pounds) into Britain based digital bank Starling bank. Starling made the announcement on April 19 saying the investment had already been completed.
According to the bank, the investment will be an extension of Starling’s oversubscribed 272 million pound financing round. This investment from Goldman Sachs leaves Starling with a market valuation of over 11 billion pounds.
Starling Bank founder and CEO Anne Boden says the investment will bring immeasurable value in the company further helping it to expand by leaps and bounds.
“Goldman Sachs will bring valuable insight as we continue with the expansion of lending in the UK, as well as our European expansion and anticipated M&A,” said Boden.