Posted on March 6, 2017 by staff

Atom Bank raises further £83m capital


Atom Bank, the UK’s first bank designed exclusively for mobile, has raised a further £83 million from investors, taking the total amount raised to £219m.

It has secured further capital from current investors including BBVA, Woodford Investment Management, Toscafund Asset Management and others.

Founder and chairman Anthony Thomson said: “We are very pleased with the response we have had from investors.

“Our customers benefit from the backing of highly reputable investors who are supportive of what we are doing. This is a great vote of confidence in our growth prospects and plans for the future.

“With the work we have done so far we are just beginning to see how transformational our new approach to banking can be. There is so much more to come from Atom in the coming months and years.”

Thomson was recently appointed as Newcastle University Business School’s new Goldman Visiting Professor, replacing Harry Swan in the prestigious role.

After securing its banking licence in June 2015, Durham-based Atom Bank launched operations in April 2016, offering two market-leading fixed saver accounts and secured business lending for small- and medium-sized enterprises.

It recently launched its first mobile mortgage product, allowing borrowers to manage everything via an app.

The firm expects to announce further funding in the near future.