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Atom raises £30m

By Ross Henry Law

UK app-based bank Atom has added £30 million in equity to its balance sheet.

Atom said the latest fundraise will help it to continue to support its lending customers including homeowners, first-time buyers, and SMEs. The funding will also be used to support the bank’s ongoing growth.

BBVA, Toscafund and Infinity Investment Partners were the supporters of the latest funding, which follows a £75 million fundraise earlier this year.

“This year has been one of continued progress and development at Atom,” said Mark Mullen, chief executive 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.”

He continued: “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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