Digital bank Atom seeks $32 million ahead 2015 launch: Sky News

Reuters News
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Posted: Oct 28, 2014 7:29 PM

(Reuters) - New British banking venture Atom is tapping investors to raise about 20 million pounds ($32.27 million) ahead of its planned launch next year, the Sky News reported late Tuesday.

Atom, which plans to offer its services online and have no physical branches, is expected to raise the current round of funding from existing and new shareholders, the website said.

Few of the prominent bankers have agreed to contribute to Atom's new fundraising, which would value the company up to 30 million pounds, Sky News said.

The digital bank was set up by Anthony Thomson, the co-founder of Metro Bank, Britain's first new high street bank for over a century.

Atom is seeking regulatory approval from the banking and financial regulators, the website said.

Atom could not immediately be reached for comment outside regular business hours.

(Reporting by Rama Venkat Raman in Bangalore; Editing by Richard Chang)