Atom bank has raised £50m in its latest fundraising round to fund future growth.
The digital bank received finance from BBVA, Toscafund, Woodford Patient Capital Trust and funds advised by Perscitus LLP.
It will also use the funding to continue its investment in technology.
Atom bank’s total lending has grown by 76% in the past year to £2.4bn, while its deposits have increased to £1.8bn.
It stated that it was also receiving up to £20m of business and £10m of residential mortgage applications per week.
Bridget Rosewell, chairman at Atom bank, said: “This latest raise recognises the enormous progress that we have made on our journey to disrupt UK banking, and is a clear signal of our investor’s support for our future plans.”
Mark Mullen, chief executive officer at Atom bank (pictured above), added: “What’s important to customers is good products, good service and good value so that’s where we’ve spent the majority of our time and energy.
“We’re growing our team here in the North East and will add 50 new roles this year to help us expand the range of products and services we offer, starting with instant access savings in the autumn.
“More than ever we are convinced of the importance of Atom’s role to drive positive change in UK banking.”
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