The fundraising, which is expected in the first half of next year, is likely to be the last round before the mobile app-based bank floats on the London Stock Exchange. Atom, headquartered in Durham, England, has been forced to delay its initial public offering this year as a result of a tough market environment, which has led to a number of companies shelving their IPOs. Atom is hoping to float in 2024 once the new shareholders are on board, the person familiar with the bank’s plans said.
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Atom Bank to tap private equity for final £50m funding round next year
Gary Greenwood, an analyst at Shore Capital, said: “They can make the business work with deposits. They also have an operational advantage in terms of costs, being digital-only without a branch network.”
