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Starling Bank, having grown its user base to 1.9m UK customers, has sparked acquisition interest amongst major high street banks. Whilst JP Morgan has its eyes on the start-up’s customer base, Lloyds wants its technology. But Starling’s CEO and co-founder, Anne Boden, has made it clear she does not intend to sell up.
Being acquired by either could hamper Starling’s start-up culture. That’s something Boden will have to weigh up if she considers any future bids. The Times says talk of an acquisition follow the launch of Starling’s “data room” and its current £200 million funding raise. To date, it has raised £363 million, but has shrouded its valuation in mystery for some time. A spokeswoman for Starling reiterated the CEO’s plans in response to The Times’ reports. “Anne has always said she will never sell to a big bank. An IPO is still in our sights.”
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