The UK’s first digital-only bank Atom is planning to raise £20m from prominent backers to fund its launch, Sky News has reported.
For raising the amount, the digital bank will tap both existing as well as new shareholders, the report says.
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The bank’s investors include Paul Pindar, former chief executive of the outsourcing group Capita; Jeremy Middleton, co-founder of Homeserve; and Lorna Moran, the founder and chairman of recruitment group NRG.
The fundraising is expected to see contributions from other prominent backers as well.
The estimated value of the company post the new fundraising is expected to be around £30m.
Atom, plans to provide only online and mobile services, without any physical branches.
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By GlobalDataThe bank is chaired by Anthony Thomson, co-founder of Metro Bank, and Mark Mullen, the former boss of HSBC-owned First Direct.
