British digital banking startup Atom Bank is bidding to raise £20 million from private investors ahead of a planned launch next year, Sky News is reporting.
Created by former Metro Bank chairman Anthony Thomson and ex-first direct CEO Mark Mullen, Atom is hoping to take advantage of the shift in banking from branches to mobile and online channels.
The upstart bank has already secured a six-figure investment from Newcastle-based Middleton Enterprises and hired Paul Hanks from Steria as its first CTO, and Edward Twiddy, director of the North East Local Enterprise Partnership (LEP) as chief innovation officer.
Citing unnamed 'insiders', Sky News says that Atom is in talks with Paul Pindar, former chief executive of the outsourcing group Capita, Jeremy Middleton, co-founder of Homeserve; and Lorna Moran, the founder and chairman of recruitment group NRG, about a fundraising round that will value the company at £30 million.