Atom Bank has picked advisers and is seeking out fresh investors to take part in a £100 million funding round likely to be its last before an initial public offering, according to reports.
Sky News has learned that the app-based lender is working with bankers at Jefferies on a share sale that will take place in the coming months as it continues to approach investors around its capital raise, with one party telling the news service that Atom could seek as much as £150 million.
Atom recently added £30 million in equity to its balance sheet with a previously investment of £75 million in 2022 from existing investors including Toscafund and Infinity Investment Partners.
Atom chief executive Mark Mullen said at the time that 2022 had been a year of “continued progress and development” for the lender.
“In recent weeks we surpassed £4.5 billion 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,” he added.
Recent Stories