UK FinTech Atom Bank is fundraising through a share sale.
In Brief:
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The digital-only bank wants to raise additional funds to support the business through the pandemic.
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It has so far lent £2.4bn since its launch in 2016.
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Sky news says that Atom Bank will consider raising £50-150mn through the share sale.
What does this mean?
The Covid-19 pandemic has put pressure on businesses to find and access sources of finance. Even though the digital banking sector which has seen an uptick in use, FinTech organisations will have to prove their business can be stable. The amount Atim raises will depend on demand.
