Atom Bank lands 30m funding to boost lending and fuel growth

UK challenger Atom Bank has raised 30m from previous investors BBVA, Toscafund and Infinity Investment Partners to drive ‘continued growth and development’.

Atom raises 30m

A new cash injection means the Durham-based company has raised 105m in 2022, after previously raising $75m in February.

Atom said the funds will facilitate further lending so it can “continue to support its lending customers, including homeowners, first-time buyers and small businesses in this challenging economic environment.”

“This is also another positive step in Atom’s growth plans and future listed market,” added Banks.

Times With the new funding, Atom has reportedly delayed its planned listing by at least two years. The bank was reportedly in talks to list in New York earlier this year through his 700m SPAC merger, but talks were eventually dropped.

Atom said it “continues to deliver strong results in 2022” despite a “changing backdrop”.

Growth in both lending and personal deposits led to a strong increase in net interest income, Atom achieved positive operating margins and the bank continued disciplined cost control.

The bank also hired a new CTO and CFO this year.