Atom Bank is raising £30mn funding as it announces its plans for an IPO in 2024.
In Brief:
This comes after a £75mn raise in February this year.
The round is made up of BBVA, Toscafund and Infinity Investment Partners.
Atom planned to float on the stock exchange sooner, but will now aim to IPO in 2024.
What does this mean?
The Financial Times says Atom is planning at least one more raise before it goes public, but CEO Mark Mullen says the company is still seeing “continued growth in our mortgage and business lending books” and continues to benefit its customers and shareholders.
