"We are doing really well financially and it's a horrible thing to say but the crisis has has given us the opportunity of really spending some time to focus on getting new products out, getting new things launched and consolidating our position," Starling's founder and CEO Anne Boden told reporters on a call Thursday. "We are back on track to be profitable by the end of the year.
Founded in 2014, Starling is one of several upstarts that came about in the years following the 2008 financial crisis with the aim of challenging the big banks. Other players in the space including British peers Monzo and Revolut, and German rival N26. Starling lags behind all three on customer numbers, with 1.5 million current accounts in total.
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