The Starling Bank founder has reduced her stake in the fintech company as new filings reveal Anne Boden reduced her stake in a secondary share sale that valued the company at up to £4bn.
According to the information, Boden, which Starling founded in 2014 after senior positions at Allied Irish Banks and Lloyds, has reduced its stake from 4.3 percent to around 2.7 percent.
The move follows a secondary share sale launched by Starling last year, intended to allow existing shareholders to sell their shares while creating opportunities for new investors. According to the Financial Times, the bank was seeking a valuation of between £3.5 billion and £4 billion at the time.
The documents show that Chrysalis Investments, which counts Starling as 53 percent of its portfolio, retained a stake of more than 10 percent. The Guernsey-based investment trust has been a long-standing backer of Starling, leading a £30m funding round in 2019 and investing a further £20m in 2023.
Starling’s largest shareholder remains billionaire Harald McPike, who continues to hold more than 40 percent of the company through his investment vehicle JTC Holdings.
The secondary sale comes amid a change in tone from Starling’s leadership regarding a potential listing. Last year, the bank’s leadership team signaled increasing openness to a U.S. IPO, signaling a move away from previous commitments to London.
Declan Ferguson, Starling’s chief financial officer, said the bank had not yet formed a “concrete view” on the most appropriate market for a listing and described the decision as “in flux”. This contrasts with comments made in 2024 by former interim boss John Mountain, who said the fintech was “very committed” to a London listing and described the city as its “natural home”.
Mountain succeeded Boden as CEO in May 2023. Her departure followed reports of tensions with investors after fund manager Jupiter sold its stake in Starling at a price below its previous valuation. Boden later said her decision to resign reflected concern that her role as board chair was being unduly influenced by her position as a shareholder.
When asked about her reduced share, Boden declined to comment.
A Starling spokesman said: “Last year, one of our shareholders agreed to sell some of its shares to another of our shareholders in a private, bilateral transaction. This was done with the full knowledge and support of the company.”
