Jupiter is in talks with present Starling buyers about offloading the stake for round £100 million, with a deal set to be finalised inside weeks, says Sky, citing sources. Goldman Sachs is reported to be one purchaser.
The sale would worth Starling at round £1.5 billion, a billion kilos down its valuation at an inner fundraise in April.
Final month, Sky reported that Jupiter was seeking to unload its whole 10% stake in Starling for round £200 million.
Starling turned a £32m revenue for the final monetary yr, marking its first full yr of profitability.
Nevertheless, the fintech sector has seen a bunch of massive names – together with Klarna and Stripe – see their valuations plummet over current months.
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