BBVA Cancels Atom Bank Takeover and the Startup Announces New Capital Raise

BBVA cancelled their planned takeover of Atom Bank due to concerns related to Brexit’s impact on the UK economy; Atom Bank announced plans to raise additional capital after the takeover bid was halted; the startup is planning to raise £50mn and has already begun talking to investors; the rumors of a BBVA takeover first surfaced back in January since the bank owns about 40 percent of the digital banking startup; Atom has also talked about going public in 2022 and has recently raised more than £150m in the last year. Source.