What business should I do in the countryside with a capital of 200 million?

Atom Bank – the first to be designed exclusively for mobile – has agreed terms for a further £83 million in equity, taking its total capital to £219 million. It has secured further capital from existing investors including BBVA, Woodford Investment Management and Toscafund Asset Management.

The latest tranche of investment is evidence of a growing appetite for Atom’s revolutionary banking model. By taking the best practices from digital businesses and applying them to the banking industry it aims to offer improved customer experiences.

In addition to raising capital, Atom is engaged in a 3-year Knowledge Transfer Partnership (KTP) with the Department of Mathematical Sciences at Durham University. The KTP will enable the business to understand the functional and financial relationship between key banking activities and help it to optimise how it manages its people, products and processes.