Starling Bank has launched a third UK office in Cardiff, as the app-based bank continues its growth plans.

The opening in the Welsh capital will create 400 jobs and contribute to Wales’ £8.5 billion tech sector.

Starling said the 14,000 sq. ft site will grow its data science, fraud and customer service teams, with more set to follow in the second half of 2020.

Starling announced last month that it has raised a further £60 million from its existing investors, Merian Global Investors and JTC. The digital challenger bank has also confirmed that it will award shares to all employees.

Founder and chief executive Anne Boden, a Welsh native, said: “The Welsh tech sector is one of the fastest digital economies outside of London, and continues to grow – Cardiff is also a bright, dynamic and entrepreneurial city with a supportive ecosystem which we are looking to tap into as we continue to grow our business and personal accounts.

“We believe that London’s success as a fintech hub should enable it to spread wealth and jobs throughout the UK and the wider economy.”

Launched in 2014, Starling has built up a workforce of over 800 employees in its offices in London and Southampton.

Around 45,000 people are employed within the digital economy in Wales with main hubs focused in Cardiff, Newport, Swansea and Wrexham.

Ken Skates, economy, transport and North Wales minister said: “Our thriving FinTech ecosystem has seen a number of companies make the move to Wales following Welsh Government advice and support, and it’s fantastic Starling has decided to do the same, creating 400 new jobs with more to come.”

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