News

Atom Bank raises GBP 50 mln

Tuesday 23 July 2019 13:09 CET | News

Atom Bank has raised GBP 50 million in a fundraising round with participation from BBVA, Toscafund, Woodford Patient Capital Trust and funds advised by Perscitus LLP, according to Sharon Kimathi from FinTech Futures.

 

The new capital will be used to fund further growth and to continue the bank’s investment in technology.

Atom is also said to be re-platforming the bank into the cloud and preparing to launch new products using Thought Machine’s smart contract core banking technology.

The bank’s total lending, for homeowners and small businesses, has grown by 76% in the past year to GBP 2.4 billion, supported by growth in deposits from GBP 1.4 billion to GBP 1.8 billion.

 


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Keywords: Atom Bank, mobile banking, funding, core banking
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Countries: World