As part of this fundraising round, BBVA will invest a further GBP 85.4 million in the Trustpilot bank, increasing its ownership to around 39%, subject to regulatory and shareholder approval. Toscafund will invest GBP 54.4 million and is also increasing its stake in the neo-bank. A number of Atom’s other existing shareholders are also supporting this raise.
The investment will secure Atom’s continued growth as a lender. To date, Atom has taken GBP 1.3 billion of deposits and loaned over GBP 1.2 billion to SME businesses and homeowners in the UK.
In October 2017, the UK-based neo-bank passed GBP 900 million in deposits, two years after launching its first savings accounts product.
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