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721

UK challenger bank Atom raises another £50M from BBVA and more at £530M valuation

via TechCrunch 

Another hopeful among Europe’s so-called challenger banks — startups taking on the big names in consumer banking by targeting niche groups of users with a more modern set of tools to manage users’ money — has raised a sizeable round of funding to expand its business.

Atom Bank — which targets mainly millennial-aged consumers (current slogan: “It’s all about you, you, you”) with mobile-first savings accounts and mortgages as well as small business loans — has raised a further £50 million in funding. It’s not disclosing its valuation officially, but sources confirm it’s £530 million (or around $660 million at current rates), up from £450 million previously. (more…)

Banks, Deals, Mobile-first banks

July 23, 2019

2188

Britain Just Gave The Green Light To A Bank With No Branches And No Website — Just An App

Business Insider: Atom Bank, the online-only challenger bank, just won a banking licence to operate in the UK and plans to launch later this year. Unlike traditional banks — and even some challengers — Atom Bank won’t have any branches or even a website initially, operating purely though a mobile app. (more…)

Fintech news, Mobile-first banks, news

June 24, 2015