Atom Bank, the mobile-only bank, has landed £83m in funding led by Spanish bank BBVA, with participation from Woodford Investment Management and Toscafund Asset Management.
Founded in 2014, Durham-based Atom Bank claims to be the UK’s first bank created exclusively for mobile, offering a range of services including mortgages, fixed saver accounts and secured loans for small businesses. Users can login with face and voice recognition and have access to a 24/7 support line.
The bank, which currently has around 14,000 active users, enables early adopters of its technology to become part of its Founder Programme, giving them the chance to be first to access and try out new services.
The funding will help Atom grow its customer base, continue to develop new services and provide capital for lending.