Atom bank raises GBP 149 mln in fundraising round

Thursday 8 March 2018 09:14 CET | News

The UK-based Atom bank has raised GBP 149 million in a round led by cornerstone investors BBVA and Toscafund.

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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Keywords: Atom Bank, UK, neo-bank, BBVA, Toscafund, savings account, mobile banking
Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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Banking & Fintech