🏆 Deal of the Week · CW 47/2022
Atom Bank raised GBP 30 million in a Private Equity round; valuation was not disclosed. The round was backed by existing institutional investors BBVA and Toscafund. This raise was recognised as Deal of the Week for KW 47/2022.
Atom Bank — key deal facts
| Company | Atom Bank |
| Founded | 2014 |
| Headquarters | Newcastle upon Tyne, United Kingdom |
| Amount raised | GBP 30M |
| Valuation | Valuation Remains Undisclosed |
| Round | Private Equity |
| Investors | BBVA (https://www.bbva.com/en/) Toscafund (https://www.toscafund.com/) |
| Sectors | FinTech |
Who invested in Atom Bank?
The round was funded by BBVA, the Spanish multinational banking group, and Toscafund, a London-based alternative asset manager. The investor mix is notable for combining a major global bank with a specialist activist hedge fund, reflecting confidence from two distinct capital pools in Atom Bank's long-term trajectory. Both investors were already shareholders, making this a follow-on commitment rather than a first entry.
What does Atom Bank do?
Atom Bank is the United Kingdom's first digital-only retail bank, built exclusively for smartphones and tablets with no physical branch network. Its product suite includes fixed-rate and instant-access savings accounts, retail mortgages, commercial mortgages, and secured business loans for small enterprises. The bank was founded in 2014 and is headquartered in Newcastle upon Tyne, England. It was co-founded by Anthony Thomson, a co-founder of Metro Bank, and Mark Mullen, former CEO of First Direct.
Atom Bank valuation & multiples
No multiples analysis is available for this deal, as Atom Bank's valuation was not disclosed in connection with the GBP 30 million Private Equity raise. Without an enterprise value reference point, EV/Sales and EV/EBITDA calculations cannot be derived. Readers seeking sector context are encouraged to explore Venionaire DealMatrix's FinTech sector multiples pages for relevant benchmark ranges.
Frequently asked questions
How much did Atom Bank raise in its Private Equity round?
Atom Bank raised GBP 30 million in a Private Equity round, recognised as Deal of the Week for KW 47/2022.
What is Atom Bank's valuation?
Atom Bank's valuation was not disclosed in connection with this GBP 30 million Private Equity raise.
Who invested in Atom Bank?
The round was funded by BBVA and Toscafund, both existing shareholders in the bank.
When was Atom Bank founded and where is it based?
Atom Bank was founded in 2014 and is headquartered in Newcastle upon Tyne, United Kingdom.
Source: original announcement — read the full report.