Atom Bank has filed a Reg D, 506b, notice of an exempt offering with the Securities and Exchange Commission. According to the document, Atom Bank is seeking approximately $124 million in equity capital. The digital only challenger bank is working with Macquarie Capital USA on the offer. Only four states are noted on the filing: California, New York, New Jersey and Maryland.
Atom Bank has raised funding several times in the past. In November of 2105, Atom Bank received a £45 million investment from BBVA with a post-money valuation of over £150 million. It was later reported that Atom Bank received $125 million in funding during 2015 making it one of the largest global VC deals during the year.
Atom Bank received a banking license in June of 2015. At that time, Atom Bank CEO Mark Mullen described the license as “ground breaking”.
Atom Bank is an App based bank without any of the cumbersome (and costly) branches. When Atom Bank opened its digital doors to UK customers, Mullen stated;
“We are creating an entirely new way to bank; a system that is based on what the customer needs and wants, rather than being focused on bank balance sheets. We’ve been steadily growing our business to date and this is an exciting new phase where we can offer our Fixed Saver rates to anyone who wants them. We’re already working on our current account, so there’s much more to come.”