UK based banking app Atom Bank has raised another £83m from existing investors, led by BBVA. Woodford Investment Management, Toscafund Asset Management and others contributed to the funding, which brings the total capital raised by Atom to £219 million.
App-based bank Atom is raising another £83 million from existing investors, including Spain's BBVA, as it builds up a war chest to take on Britain's high street giants. BBVA's contribution is £29.4 million, which keeps its stake at 29.5%, the amount acquired for £45 million in late 2015. Woodford Investment Management, Toscafund Asset Management and others contributed to the funding, which brings the total capital raised by Atom to £219 million. More funding is expected in the "near future". Led by experienced bankers in CEO Mark Mullen and chairman Anthony Thomson, the challenger received its banking license in June 2015 and launched operations in April 2016, offering two fixed-saver accounts and secured business lending for SMEs.
https://www.finextra.com/newsarticle/30225/atom-bank-raises-83m-says-more-to-come
