The investment will enable Atom Bank to continue lending to homeowners, first-time buyers and SMEs, among other customers
UK challenger bank Atom has raised £30m in equity financing from BBVA, Toscafund and Infinity Investment Partners, to further its lending capabilities and future growth and development.
The investment will enable Atom to continue lending to homeowners, first-time buyers and SMEs, among other customers.
It’s also a step forward in Atom’s plans for a future IPO and follows the £75m that the challenger bank raised in February.
Atom claims to have experienced growth in both lending and retail deposits, which have driven an increase in net interest income.
In recent weeks, Atom surpassed £4.5b in retail deposits through its fixed and instant savers.
Mark Mullen, chief executive officer at Atom, said: “Our prudent, secured lending model, backed by award winning retail savings allows us to make the very most of capital to support income growth and boost customer numbers. This will remain our focus.
“Alongside continued growth in our mortgage and business lending books, the bank is proving that our clear focus on being fast, easy, and value for money is something that will keep benefiting both our customers and shareholders.”
Image: Atom Bank