Investment boost for Atom

The UK’s first digital-only bank Atom has secured a further £25 million of equity investment ahead of its planned 2015 launch.

The bank announced that Neil Woodford’s CF Woodford Equity Income Fund had become the “cornerstone” of Atom’s shareholder base, which now boosts 70 investors.

Other institutional and private investors coming on board in this latest funding round include investment management company Polar Capital, venture capitalist Jon Moulton, former chair of Goldman Sachs Asset Management Jim O’Neill, and businessman Sir Peter Vardy.

Atom’s chairman Anthony Thomson said: “The quality and commitment of our shareholders is testimony to the strength of the Atom business proposition, the executive team and the board.

“As we continue to move closer towards authorisation, our strong financial position and the support from individual and institutional shareholders positions us well for our planned launch in 2015. With great commercial and technology partners already on board the business is growing strongly on firm foundations.”

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