Total amount raised
£674 Millions
Latest funding date
11/1/2023
Location
Atom Bank has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The bank's innovative approach to digital banking has garnered attention and support from notable financial entities.
Continue reading to delve into the details of Atom Bank's funding journey and the key investors backing this forward-thinking financial institution.
What Is Atom Bank?
Founded in March 2014, Atom Bank is headquartered in Durham, United Kingdom. The bank was established by Anthony Thomson, David McCarthy, and Mark Mullen.
Atom Bank offers a range of personal and business banking products, including mortgages, fixed rate savings accounts, and commercial mortgages. The bank operates primarily through its mobile application, which features face and voice recognition for secure access.
With a workforce of 501-1000 employees, Atom Bank continues to innovate in the digital banking space, providing 24/7 customer support and a user-friendly app available on iOS devices.
How Much Funding Has Atom Bank Raised?
- Amount Raised: £82M
- Date: November 2015
- Lead Investors: Banco Bilbao Vizcaya Argentaria
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its digital banking services and enhance its mobile application.
- Amount Raised: £83M
- Date: March 2017
- Lead Investors: Banco Bilbao Vizcaya Argentaria
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the bank's growth and development of new financial products.
- Amount Raised: £30M
- Date: June 2017
- Lead Investors: British Business Bank Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase lending capacity and support small businesses.
- Amount Raised: £149M
- Date: March 2018
- Lead Investors: Banco Bilbao Vizcaya Argentaria
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance customer experience.
- Amount Raised: £50M
- Date: July 2019
- Lead Investors: Banco Bilbao Vizcaya Argentaria
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its product offerings and improve technological infrastructure.
- Amount Raised: £10M
- Date: August 2019
- Lead Investors: Capability and Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support innovation and development of new banking solutions.
- Amount Raised: £40M
- Date: April 2021
- Lead Investors: Banco Bilbao Vizcaya Argentaria, Toscafund Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Amount Raised: £75M
- Date: February 2022
- Lead Investors: Banco Bilbao Vizcaya Argentaria, Toscafund Asset Management
- Valuation at Round: £435M
- Motivation Behind the Round: To support lending activities and enhance customer offerings.
- Amount Raised: £30M
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue growth and support operational needs.
- Amount Raised: £100M
- Date: November 2023
- Lead Investors: Banco Bilbao Vizcaya Argentaria, Toscafund Asset Management, Infinity Investment Partners
- Valuation at Round: £362M
- Motivation Behind the Round: To accelerate lending and support long-term growth strategy.
Total Amount Raised: £649M
Current Valuation: £362M
Key Investors
- Banco Bilbao Vizcaya Argentaria (BBVA)
- Details: BBVA is a multinational Spanish banking group with a strong presence in Europe, Latin America, and the United States. It is one of the largest financial institutions in the world.
- Investment Focus Areas: Banking, financial services, fintech.
- Notable Investments: Atom Bank, Simple, Solarisbank.
- Toscafund Asset Management
- Details: Toscafund is a London-based asset management firm that manages a range of funds across various asset classes. It is known for its investments in financial services and other sectors.
- Investment Focus Areas: Equities, credit, private equity.
- Notable Investments: Atom Bank, OakNorth Bank, Esure.
- Infinity Investment Partners
- Details: Infinity Investment Partners is an investment firm that focuses on high-growth sectors. It aims to provide long-term capital to innovative companies.
- Investment Focus Areas: High-growth sectors, technology, financial services.
- Notable Investments: Atom Bank, other high-growth ventures (specific investments not publicly disclosed).
- Capability and Innovation Fund
- Details: The Capability and Innovation Fund is part of the UK government's initiative to boost competition in the banking sector. It provides grants to innovative financial services companies.
- Investment Focus Areas: Financial services, innovation, small business support.
- Notable Investments: Atom Bank, other UK-based fintech companies (specific investments not publicly disclosed).
- British Business Bank Investments
- Details: British Business Bank Investments is the commercial arm of the British Business Bank, focusing on providing financial support to small and medium-sized enterprises (SMEs) in the UK.
- Investment Focus Areas: SMEs, financial services, innovation.
- Notable Investments: Atom Bank, Funding Circle, OakNorth Bank.
What's Next for Atom Bank?
Atom Bank stands poised to capitalize on a wealth of opportunities, driven by its recent £100 million equity raise. With a customer base of 224,000 and £6.6 billion in savings deposits, the bank aims to accelerate lending activities and enhance offerings for savers, homeowners, first-time buyers, and SMEs. This growth trajectory aligns with industry trends favoring digital banking and app-based financial services.
Future fundraising opportunities appear promising, with potential for an IPO as part of Atom Bank's long-term strategy. However, the bank must navigate challenges such as high interest rates, cautious investor sentiment, and fierce competition from both traditional banks and fintech startups. Maintaining sustainable growth while managing costs will be crucial for Atom Bank's continued success.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Atom Bank and gather other critical business insights.
Sign up for free on Clay and start transforming your sales approach today.
