Atom Bank valuation halves on £40m raise

As previously reported, the raise is being led by Spanish giant BBVA, which owns about 40% of Atom, and Toscafund Asset Management. Despite the steeply discounted valuation, Atom says it has seen its best ever year and is gearing up for an IPO in the next 48 months. Revenues are growing strongly, says Atom, adding that it is on course to achieve over 100bps of Net Interest Margin by the end March.
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