8 years ago

Atom Bank raises $102 Million for Mobile-Only Banking Services

  • Atom Bank, a UK-based mobile-only bank for millennials, has raised $102 million in funding led by BBVA, the Spanish bank

  • The funding gives Atom a post-money valuation of $320 million

  • The company plans to use the funding to expand its customer base, services, and lending capabilities

  • Atom launched in April 2016 and offers mortgages, Fixed Saver accounts, and secured loans for small and medium-sized businesses

  • This round follows Atom's previous $128 million round led by BBVA in November 2015

  • BBVA's investment in Atom underscores the ongoing activity and change in the British banking sector, which has seen a surge in fintech startups offering digital financial products and services.

      • ProblemFinancial Services

      "Millennials are underserved by traditional banks, who offer outdated services and lack a mobile-first approach."

      Solution

      "Atom Bank is a mobile-only bank that provides a modern, digital banking experience specifically tailored to the needs of millennials, offering products like mortgages, savings accounts, and business loans."

      Covered on