UK-based neobank Starling is establishing a presence in Canada, opening a new office in Toronto as part of its broader North American expansion strategy. The move underscores Starling’s ambition to scale its banking software-as-a-service (SaaS) product, Engine, across a region where many financial institutions still rely on outdated legacy systems.
Founded in 2014, Starling has over 4 million customers and £12 billion in deposits, but unlike peers such as Revolut and Monzo, it has largely focused on the UK market—until recently.
The Toronto office will initially support Engine’s operations, with three key roles listed for hire. Nick Drewett, Engine’s Chief Commercial Officer, said the company sees North America as a high-potential market, given the demand for modern, customer-friendly, cloud-native banking platforms.
This Canadian expansion follows Starling’s April announcement of plans to open a US subsidiary and East Coast HQ, as well as ongoing efforts to secure a US banking license. A New York IPO is also reportedly under consideration, signaling Starling’s intent to deepen its foothold in the North American financial technology space.
With both Revolut and Monzo also eyeing US listings, Starling’s moves highlight a broader trend among UK fintechs looking to tap into larger and more tech-hungry markets overseas.
