Toscafund et al. in £50m round for Atom Bank

Private equity and venture capital advisory firm Perscitus also took part via its direct investment arm, alongside BBVA and Woodford Patient Capital Trust.

The fresh capital will enable Atom to recruit 50 new team members and invest in product development and marketing activity.

The business has lent a total of £2.4bn to date, which represents a 76% increase over the course of the last 12 months, according to a statement.

Company
Founded in 2014 and headquartered in Durham, Atom is an online bank that primarily provides its services through mobile apps. The company processes £20m of business applications and £10m of residential mortgage applications per week, according to the statement.

People
Atom Bank – Bridget Rosewell (chairperson); Mark Mullen (CEO).

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