2022-11-25 10:12:00

Atom Bank raises £30 million in equity

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Finextra
By Editorial Team

BBVA, Toscafund, and Infinity Investment Partners have agreed to invest £30 million in equity to Atom Bank to power lending and growth.

Atom Bank previously raised £75 million in February, making their funding for this year total £105 million.

As the UK’s first app-based bank, Atom will focus its funds on growth for public markets. In the current economic climate, the company aims to support its lending customers who are currently facing difficulties in the cost of living crisis.

Mark Mullen, CEO of Atom Bank, stated: “This year has been one of continued progress and development at Atom. In recent weeks we surpassed £4.5bn in retail deposits having made waves with the pricing of our fixed and instant savers, opening up a void between banks such as Atom that pay a fair return on savings and those that are simply unresponsive to the market. Alongside continued growth in our mortgage and business lending books, the bank is proving that our clear focus on being fast, easy, and value for money is something that will keep benefiting both our customers and shareholders.”

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