Atom bank

A family photo of the Atom bank team; the Atom pull brings a unique mix of talent and experience, including global talent too!

Atom bank secures £149m investment

The Durham-based challenger bank has raised £149m in a funding round led by cornerstone investors BBVA and Toscafund.

Spanish banking giant BBVA has increased its stake in Atom bank to around 39% after investing £85.4m into the company.

The investment was made as part of a £149m funding round which included Toscafund, who will invest £54.4m, and a number of Atom’s existing shareholders.

The injection of capital will secure Atom’s continued rapid growth as a lender and fund further investment in technology and business capabilities.

To date, Atom has taken £1.3bn of deposits and loaned over £1.2bn to SME businesses and homeowners in the UK.

Bridget Rosewell, Atom bank's chair, said: “Atom is a rapidly growing, ambitious and vibrant business that is founded on the unique fit of our shareholders, our team and our partners.

“I am delighted that our investors have decided to back the bank with such a significant injection of capital to fuel our mission to change banking permanently for the better.”

Atom bank's CEO, Mark Mullen, said: “We are very proud of what we have achieved in the Atom journey to date and we are excited about our plans for the future.

“This further significant injection of capital secures the bank’s place as a disruptive force in the mainstream of UK banking.

“We will continue to invest in growth, in our technology and in our products as we continue to push ahead with the support of our investors."