Atom, which aims to become the UK’s first truly digital bank when it launches in the North East next year, has completed a £25m funding round.
Neil Woodford's CF Woodford Equity Income Fund has reportedly become a "cornerstone" of the bank's shareholder base.
Venture capitalist Jon Moulton, ex-Goldman Sachs Asset Management chair Jim O'Neill, and investment house Polar Capital have also backed the bank.
Earlier this year we reported that the investment firm backed by North East entrepreneur Jeremy Middleton had also put a six-figure sum behind the bank.
Ahead of its launch in the New Year, with a portfolio of new products, it is currently in the process of applying for a full banking license from the Prudential Regulatory Authority and the Financial Conduct Authority.
Atom chief executive Mark Mullen says: "As we continue to move closer towards authorisation, our strong financial position and the support from individual and institutional shareholders positions us well for our planned launch in 2015."
Atom is the brainchild of Metro Bank founder Anthony Thomson and the ex-chief executive of First Direct, Mark Mullen. It expects to initially create 300 jobs when launched.
Other notables to have joined the Atom bandwagon include outgoing North East LEP director Edward Twiddy, who will serve as chief operating officer, and Craig Iley, who has made the switch from Santander regional director to Atom’s MD.
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