Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news

Breaking-Finance.Com - Atom Bank's pitch to raise £40 million from existing investors is likely to lead to a sharply discounted valuation for the app-based lender, underscoring the difficulties faced by neo banking startups in attracting investors.

Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news

Breaking-Finance.Com - Atom Bank's pitch to raise £40 million from existing investors is likely to lead to a sharply discounted valuation for the app-based lender, underscoring the difficulties faced by neo banking startups in attracting investors.

Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news
11 March 2021 - 12:45

Breaking-Finance.Com - Atom Bank's pitch to raise £40 million from existing investors is likely to lead to a sharply discounted valuation for the app-based lender, underscoring the difficulties faced by neo banking startups in attracting investors. Sky News has learnt that the Durham-based startup is close to concluding a £40 million fund raise at 60p-a-share, just under half the price at which it raised equity in 2019.Atom trailed the news last month, but made no reference to its steeply discounted price.

.Atom Bank is not the only digital banking upstart feeling the pinch from a more critical funding community.Loss-making UK challenger Monzo has been forced to swallow a 40% discount on £175 million in funding since the start of the pandemic, cutting its valuation from £2 billion to £1.2 billion.

Source = Breaking-Finance.Com

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Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news


Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news


Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news


Finance Breaking news Atom Bank's valuation set to halve on latest funding round last financial news

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