Hi all,
what is your opinion on VC-fueled banking starutps?
I’m following a fintech newsletter (https://fintechwave.substack.com/), and today they wrote about Atom Bank from UK. Anyhow, to cut things short, Atom Bank even though they are a private company, published an annual report.
Their results?
The bank has 123.000 customers and £3.2B in savings balances. In terms of finances, the bank has £46.8M of revenue and a loss of £9.1M.
But all of this doesn’t stop them from raising new funding next year. The target for a new funding round is £50 mil.
What are your thoughts on this? Would you open an account with them?