Starling Bank vs Toast: Founders, CEOs and History
Starling Bank was founded in 2014 by Anne Boden and is led by Raman Bhatia. Toast was founded in 2011 by Aman Narang, Steve Fredette, Jonathan Grimm and is led by Aman Narang.
Company facts
Starling Bank
- Founded
- 2014
- Headquarters
- London, England, United Kingdom
- Current CEO
- Raman Bhatia
- Employees
- 3,500
Toast
- Founded
- 2011
- Headquarters
- Boston, Massachusetts, United States
- Current CEO
- Aman Narang
- Employees
- 6,500
Founders
Starling Bank
Anne Boden
Anne Boden founded Starling Bank in 2014. After an absolutely massive, 30-year career deeply entrenched in the rigid legacy infrastructure of massive global banks (like ABN AMRO and Allied Irish Banks), she became utterly frustrated by their terrible technolog…
Toast
Aman Narang
Aman Narang co-founded Toast in 2011 alongside Steve Fredette and Jonathan Grimm. Originally attempting to build a mobile payment app for restaurants, the founders pivoted to building a complete Android-based point-of-sale system.
Steve Fredette
Steve Fredette co-founded Toast in 2011. As President and long-time product visionary, he architected the company's shift from a simple POS hardware provider into a comprehensive software ecosystem handling payroll, inventory, and online ordering for restauran…
Jonathan Grimm
Jonathan Grimm co-founded Toast and served as its Chief Technology Officer. He built the initial cloud-native backend that allowed restaurants to manage menus and view analytics from anywhere, a massive upgrade over the hard-wired, on-premise servers used by l…
CEOs and their tenures
Starling Bank
- Anne Boden2014–2023
Founder & CEO
Author of 'Banking On It' and appointed MBE for services to financial technology, Boden is widely hailed as the godmother of modern British fintech.
Source - Raman Bhatia2024–present
CEO
Bhatia previously served as CEO of OVO Energy and Head of Digital Bank for HSBC Retail Banking and Wealth Management in the UK and Europe.
Source
Toast
- Chris Comparato2015–2023
Chief Executive Officer
As CEO from 2015 to 2023, he scaled the company from a small startup into the dominant cloud POS provider in the US restaurant industry, increasing locations served to over 100,000.
Source - Aman Narang2024–present
Co-Founder and Chief Executive Officer
He successfully guided the company toward GAAP profitability while maintaining massive market share growth against rivals like Square and Clover.
Source
Timeline: Starling Bank and Toast side by side
2011Toast
Toast Founded in Cambridge by MIT Endeca Alumni
Aman Narang, Steve Fredette, and Jonathan Grimm founded Toast to build cloud software for restaurants.
2013Toast
Pivots from Mobile Consumer App to Full Restaurant POS
Pivoted to a complete cloud restaurant POS system, signing its first commercial restaurant in Cambridge.
2014Starling Bank
Anne Boden incorporates Starling Bank in London with the mission to build the UK's first cloud-native digital bank.
2015Starling Bank
Secures 48 million in early-stage backing from financial investor Harald McPike to fund regulatory capital requirements.
2015Toast
$30M Series B Led by Bessemer Venture Partners
Raised $30 million, crossing 1,000 restaurant locations and expanding regional field sales across the US.
2016Starling Bank
Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) grant Starling a full UK banking license.
2017Starling Bank
Launches its mobile personal current account, featuring real-time notifications, in-app card locking, and zero foreign exchange fees.
2018Starling Bank
Launches Starling Business Accounts, introducing modern mobile banking to UK small and medium enterprises.
2018Toast
$115M Series D at $1.4B Valuation & Launches Toast Go
Raised a $115 million Series D led by TCV and Tiger Global, reaching unicorn status, and launched the Toast Go handheld.
2020Starling Bank
Accredited by the British Business Bank to distribute government-backed Coronavirus Business Interruption Loans (CBILS) and Bounce Back Loans (BBLS).
2020Toast
$400M Series F at $4.9B Valuation & COVID-19 Operational Pivot
Raised a $400 million Series F at a $4.9 billion valuation in February 2020, then cut about half its workforce in April 2020 as COVID-19 shut dining rooms.
2021Starling Bank
Acquires specialist mortgage lender Fleet Mortgages for 50 million; secures 272 million Series D funding round led by Fidelity.
2021Toast
Historic Initial Public Offering on the NYSE (NYSE: TOST)
Went public on the New York Stock Exchange, raising $870 million at an opening valuation of $20 billion.
2021Toast
Toast IPO
Toast went public on the New York Stock Exchange in September 2021.
2022Starling Bank
Becomes the first major UK digital challenger bank to report a full-year operating profit, generating 32 million in pre-tax profit.
2023Starling Bank
Anne Boden steps down as CEO after nine years; Starling launches its global core banking SaaS business, Engine by Starling.
2023Toast
Expands to Canada, UK and Ireland; Crosses 100,000 Locations
Began selling outside the US and passed 100,000 restaurant locations.
2024Starling Bank
Raman Bhatia appointed Chief Executive Officer; Engine by Starling signs international core banking contracts with Salt Bank and AMP Bank.
2024Toast
Aman Narang Appointed CEO & Toast Achieves GAAP Profitability
Co-founder Aman Narang became CEO on January 1, 2024; Toast reported $19 million of GAAP net income for the year, its first annual profit.
2025Toast
Revenue Reaches $6.15B and Net Income $342M
Added a record 30,000 net locations to about 164,000 and processed about $195 billion in GPV.
2026Starling Bank
Starling surpasses 300 million in annual pre-tax profit, 680 million in revenue, and 11 billion in customer deposits across 4.2 million accounts.
2026Toast
About 180,000 Locations and $2.4B ARR by Mid-Year
Q2 2026 revenue rose 23% to $1.91 billion with a record 9,500 net location adds.
Acquisitions
Starling Bank
- Ember2025Undisclosed
- Masthaven Mortgage Portfolio2022Undisclosed
- Fleet Mortgages2021Undisclosed
Toast
- Delphi Display Systems2023Undisclosed
- xtraCHEF2021Undisclosed
- Sling2021Undisclosed
Questions about Starling Bank vs Toast
Who is the CEO of Starling Bank and Toast, Inc.?
Starling Bank is led by Raman Bhatia and Toast, Inc. is led by Aman Narang. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Starling Bank founded vs Toast, Inc.?
Toast, Inc. was founded in 2011 — 3 years before Starling Bank, which was founded in 2014. Toast, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Starling Bank.
How many employees does Starling Bank have compared to Toast, Inc.?
Starling Bank employs approximately 3,500 people, while Toast, Inc. employs approximately 6,500. Toast, Inc. has the larger workforce at 6,500 employees, compared to Starling Bank's 3,500. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Starling Bank and Toast, Inc. headquartered?
Starling Bank is headquartered in United Kingdom and Toast, Inc. is headquartered in United States. Their different home markets mean they may face different regulatory frameworks, tax regimes, and currency exposure.
Who founded Starling Bank and Toast, Inc.?
Starling Bank was founded by Anne Boden. Toast, Inc. was founded by Aman Narang, Steve Fredette, Jonathan Grimm.
Which company has a longer operating history — Starling Bank or Toast, Inc.?
Toast, Inc. has been operating for approximately 15 years, making it the more established of the two companies. Starling Bank has been in operation for around 12 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Starling Bank vs Toast overview