In June 2015, Atom received a licence from the Bank of England. Atom still has no customers but plans to initially offer services to individuals and small businesses through mobile, internet and even wearable devices.
The Spanish bank paid GBP 45 million for the stake and also gained two of the 10 board seats. Post this deal, Atom was valued at GBP 150 million. Atoms three biggest investors are BBVA, Woodford Investment Management and the hedge fund Toscafund. Other investors include Jim ONeill, former chairman of Goldman Sachs Asset Management, and private equity veteran Jon Moulton.
In 2014, BBVA acquired Portland-based Simple, a digital lender in the US, for USD 117 million. The Spanish bank also invested EUR 2 billion in Turkeys second-largest bank, Garanti Bank, to increase its stake to 40%. Garanti also focuses on digital services.
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