UK-based mobile-only Atom Bank has exceeded £900m ($1.2bn) in deposits less than two years after launching its first savings product
Atom’s annual accounts show that the start-up had £538 million in deposits from over 17,000 customers at the end of March. This means it has attracted close to £400m in four months.
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They also show Atom has received over £300 million of small business loan applications and lent out close to £100 million in loans and mortgages by March this year.
Backed by musician Will.I.Am, who is also a strategic board advisor, Atom was founded in 2014 in Durham by Anthony Thomson, co-founder of Metro Bank, and Mark Mullen, former First Direct CEO.
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