Atom Bank has received a lifeline from troubled fund manager Neil Woodford after the digital bank and mortgage lender made a $66 million loss in 2018 by Sam_L_Shead
Atom Bank has received a lifeline from troubled fund manager Neil Woodford after the digital bank and mortgage lender made a $66 million loss in 2018.
Others investors in Atom, which provides mortgages, business loans and fixed savings accounts, include Spanish lender BBVA, London's Toscafund, and Perscitus.Total investment in Atom Bank—founded in 2014 by Mark Mullen and Anthony Thomson, the former CEO of Metro Bank—now stands at over $561 million .
But the Durham-headquartered company in North East England has struggled to compete in the mortgage market due to stiff competition and lending has slowed down as a result. However, losses at the company increased to $66 million in 2017-2018, up from $52 million in the previous year.
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