Anne Boden has cashed out of Starling Bank, with Sky News reporting Tuesday that she sold her last shares. Her exit covered the remaining 2.7% she still held.
The transaction implies a £1.7 billion valuation for Starling, roughly $2.3 billion. Per Sky News, the bank had sought as much as £4 billion during a secondary share offering last year, making the current figure less than halfway to that mark.
Starling confirmed the founder's shares changed hands in private deals with several existing shareholders and acknowledged it was aware of the transactions. A request for comment from Boden went unanswered at the time of publication.
When markets feel complex, sign up for the free Market Briefs newsletter that explains the economy, markets and housing in minutes
Boden relinquished the CEO role in 2023 and left the board the year after.
Analysts and investors see room for consolidation among London's neobanks, with traditional lenders and foreign firms stepping up competition in recent months. A lower implied valuation alongside founder share sales is a reminder to watch how funding, ownership, and potential tie-ups could reshape the sector's leaders and laggards.
It helps to get a quick clear take each morning, so subscribe to Market Briefs for five-minute market and crypto updates
