Finance

Starling’s losses double in 2019 but fintech now expects to break even

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Anne Boden, CEO of Starling Bank, speaking at Web Summit 2019 in Lisbon, Portugal.

Harry Murphy | Sportsfile for Web Summit via Getty Images

British digital challenger bank Starling said Thursday that its losses doubled in 2019, but that it now expects to break even by year-end amid a rebound in activity from the coronavirus crisis.

The London-based start-up posted a pre-tax loss of £53.6 million ($70.4 million) in the year ending November 30, roughly double the £26.9 million loss it reported for 2018. Revenues came in at £14.2 million, a steep rise from the £750,000 it pulled in a year earlier.

But in a separate trading update, Starling said it had seen lending activity spike in 2020 as…



Source cnbc.com

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