09 April 2021

Atom Bank raises £40mn 

Written By FinTech Alliance

Atom Bank raises £40mn 

UK FinTech Atom Bank has confirmed a fund raise of £40mn. 

In Brief: 

The funding has been led by BBVA, which currently owns around 40% of the challenger bank. 

It also includes Toscafund Asset Management. 

Shares were valued at 60p, half the price they went at in 2019. 

What does this mean? 

Despite a lower valuation, Atom says it’s had a successful year and plans an IPO within the next two years. CEO Mark Mullen commented on the “strong momentum baked into the business” following its “best year ever”. 

Read more here. 

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