Member Article

Further £83m in equity raised by Atom Bank

Durham-based Atom Bank, the UK’s first bank designed exclusively for mobile, has agreed terms for a further £83m in equity, securing further capital from current investors.

Atom, which has now raised £219m in total, aims to offer a great customer experience by using the best practices from leading digital firms and introducing them to the banking industry.

Customers are able to open accounts using Atom’s mobile App, access their financial information in a simple way and take advantage of a range of unique tools that will help them get the most out of their money.

Bond Dickinson provided advice on the deal, having worked with Atom since its inception.

Anthony Thomson, Atom Bank’s Founder and Chairman, said: “We are very pleased with the response we have had from investors.

“Our customers benefit from the backing of highly reputable investors who are supportive of what we are doing. This is a great vote of confidence in our growth prospects and plans for the future.

“With the work we have done so far we are just beginning to see how transformational our new approach to banking can be. There is so much more to come from Atom in the coming months and years.”

Ben Butler, Corporate Partner at Bond Dickinson, added: “This continues to be a very exciting time for Atom, the UK financial services world is continually changing in the face of increasing consumer demand for new and different services.

“Already the bank has raised more than any of the challenger banks put together and we are delighted to play a role in its story and are delighted to continue to advise Atom”.