Starling Bank Acquires Accounting Startup Ember to Enhance SME Tax Tools
Starling Bank has acquired accounting startup Ember in a deal valued under £10 million, bolstering its suite of financial tools for small businesses. The integration aims to simplify tax compliance ahead of HMRC's new quarterly filing requirements for sole traders and landlords.
The bank's CFO Declan Ferguson framed the acquisition as a strategic expansion, merging accounting software with traditional banking services. Starling's 500,000 SME customers will gain automated tax tools as the UK implements its Making Tax Digital initiative.
This MOVE capitalizes on Starling's pandemic-era growth as a leading government-backed lender. The fintech's deepening SME relationships position it to address evolving regulatory demands through technology integrations.
