Starling is opening an office in Canada as part of the UK neobank’s wider push into the North American market.
Founded in 2014, Starling is one of the UK’s biggest neobanks with more than 4m customers and over £12bn in deposits. But unlike its rivals Revolut and Monzo, the fintech has largely focused on its home country until recent months.
The company is opening an office in Toronto and, according to job listings posted on its website, is recruiting for three roles to work on its banking software-as-a-service product Engine in the Canadian city.
Engine’s chief commercial officer Nick Drewett tells Sifted it’s part of the fintech’s plans to take its software-as-a-service side hustle to banks across North America.
“We see North America as an incredibly exciting market, with thousands of banks using ageing tech that would benefit from Engine’s customer-friendly, cloud-native platform,” he says. “Because of this, we’re in the early stages of opening a small office in Toronto as well as a regional headquarters on the US East Coast.”
In April this year, Starling announced it would open a US subsidiary and establish a HQ on the East Coast as part of its plan to take Engine stateside.
The neobank is in the early stages of obtaining a banking licence in the US, Starling’s chief financial officer Declan Ferguson told Sifted in June. It’s also mulling a New York IPO, per reports last month in the Financial Times.
Starling isn’t the only UK fintech to see opportunities in the US. Previous reports have indicated both Revolut and Monzo have considered a public listing in the US over their home markets of the UK.
Read the orginal article: https://sifted.eu/articles/starling-canada-office/
