It will be interesting to see what happens. Once its a plc i think it’ll be more likely to be acquired by a bigger player as most of the old building societies that floated were. Also the new management team don’t really have any great brand affiliation to Starling. The regulatory restrictions on new accounts and lack of new product offerings mean the brand is not front and centre in fintech innovation any longer. The Starling engine product, existing customer base and ready made tech stack are certainly in its favour with regards to a potential purchaser.
I can’t really see anyone that has an existing current account snapping them up. I think it would more likely be something like the Yorkshire Building Society if they’re starting to feel left out with Coventry having bought the CoOp. Perhaps Atom? Or maybe Citibank if they change their mind about the UK market. Outside possiblity of Marcus though ring fencing limits them.