According to the Financial Times Starling Bank is considering a listing in New York as the banking firm is set to expand to the US.
Chief financial officer Declan Ferguson told the Financial Times they are thinking of applying for a US listing, this may provide Starling Bank with a higher valuation.
“We continue to observe what is happening externally with our peers, and also what is happening on the global stage in terms of the UK versus US [stock markets],” Ferguson said.
Ferguson was asked if Starling Bank would be more suited to Wall Street, he said at the moment they do not have a “concrete view” and final decision remains in “flux.”
Steven Drost, Executive Vice Chairman, CodeBase said, “The UK faces a challenge: how to retain its most innovative startups and homegrown unicorns.
“The House of Lords has even warned that if we don’t stop tech firms moving abroad or selling to foreign buyers, we risk losing global competitiveness, economic growth and top talent.
“But it doesn’t have to be all doom and gloom. British innovation is creating companies attractive enough for major international investment.
“No matter which way you slice it, UK startups still deserve more. We need to give founders strategic support that capitalises on all the things that make the UK great. Academia to nurture talent, corporations to provide proof-of-concept, mentors to offer crucial guidance, and local investment to fund progress.
“Ecosystem builders and tech accelerators connect the dots between these groups. Within an ecosystem, startups learn fast, avoid repetitive failures and can scale with speed and confidence – both here and beyond. Prioritise the ecosystem, and UK startups will thrive.”
