Great to be part of it
It’s easy to forget that the accounts only started in March!
It’d be interesting to know how many customers there are now.
Would be very interested to know customer numbers.
someones getting paid well… 3.2m spent on salaries between Nov 15 - Nov 16
The figure will likely include more than just salaries. “Staffing” is quite broad.
Also, you need to consider that the period the accounts cover is pre-launch, at this stage the majority of staff would have been C-Suite and software engineers, which is why the cost per person is quite high. These jobs generally pay quite well.
I’m sure the average cost per person will be far lower now.
The figures look fine to me. Looking forward to seeing next years!
Monzo salary year was 2.5m with a higher number of staff during the period
Starling isn’t Monzo.
Monzo had a user base during the period, which means they had a significant number of customer service staff, who are paid far more ordinary salaries.
Another reason for the higher figure could be that Starling pay their executives more than Monzo does. If so, that’s fine. Starling is a private company and can pay what they like.