25 November 2017
visit www.avoka.com

Atom Bank secures £25 million funding round

04 December 2014  |  9113 views  |  0 Golden egg in nest

Digital-only Atom Bank has secured £25 million in funding and plans to recruit 30 new staff as it bids to take on the established banking industry.

Atom, which aims to launch next year with a full portfolio of products, says Neil Woodford's CF Woodford Equity Income Fund has become a "cornerstone" of the bank's shareholder base.

Also participating in the round where a number of veteran financiers, including venture capitalist Jon Moulton, former chair of Goldman Sachs Asset Management Jim O'Neill, businessman Peter Vardy and Polar Capital.

The North East-based firm is currently 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.”

Created by former Metro Bank chairman Anthony Thomson and ex-first direct CEO Mullen, Atom is hoping to take advantage of the shift in banking from branches to mobile and online channels.

"Once there were six of us, but now we number close to sixty," says Atom on its website. "We come from the tech sector, the civil service, from banking, and many other walks of life. We all bring different perspectives, but we share a determination to change banking for the better, for good."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Former AIB COO to launch UK digital bank

Former AIB COO to launch UK digital bank

20 November 2014  |  19621 views  |  1 comments | 17 tweets | 14 linkedin
Digital-only Atom Bank seeking to raise £20 million

Digital-only Atom Bank seeking to raise £20 million

30 October 2014  |  8754 views  |  0 comments | 14 tweets | 11 linkedin
Fiserv partners Anthony Thomson on tech platform for new UK banks

Fiserv partners Anthony Thomson on tech platform for new UK banks

02 July 2014  |  10521 views  |  0 comments | 15 tweets | 10 linkedin
Digital challenger Atom Bank scores investment

Digital challenger Atom Bank scores investment

01 July 2014  |  10883 views  |  0 comments | 9 tweets | 8 linkedin
Atom Bank appoints CTO

Atom Bank appoints CTO

27 May 2014  |  9412 views  |  0 comments | 7 tweets | 3 linkedin
Digital challenger Atom Bank hires chief innovation officer

Digital challenger Atom Bank hires chief innovation officer

15 April 2014  |  16959 views  |  0 comments | 4 tweets | 4 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit https://www.niceactimize.comvisit www.aciworldwide.comvisit www.atos.net

Top topics

Most viewed Most shared
Sepa instant payments goes liveSepa instant payments goes live
10972 views comments | 46 tweets | 79 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
9533 views comments | 25 tweets | 37 linkedin
hands typing furiouslyHow Fintech Companies are disrupting the C...
8198 views 0 | 20 tweets | 9 linkedin
Axis Bank uses Ripple to open new payment corridors between the UAE and SingaporeAxis Bank uses Ripple to open new payment...
8132 views comments | 8 tweets | 22 linkedin
UK Open Banking expanded to cover all PSD2 productsUK Open Banking expanded to cover all PSD2...
7820 views comments | 21 tweets | 47 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job