Durham-based Atom bank has raised a further £149m of investment to support its growth.
Spanish banking group BBVA has invested £85.4m - taking its stake in Atom to 39% - while London asset managements group Toscafund has increased its stake with an investment of £54.4m. A number of Atom’s existing backers have also put in new investment.
The investment round means that Atom has brought in almost £400m of equity capital as it builds what is hoped to be the UK’s leading digital-only bank from the North East .
Atom said the new investment would help it continue to grow and allow it to expand its technology and business capabilities.