The financing was co-led by Radical Ventures and Temasek to fuel expansion in the United States.
"The next generation of software won’t run on code, it will run on models fueled by training data. We let our clients easily turn human knowledge into AI models, improving the safety and accuracy of AI. This is incredibly powerful, and in the right hands, can literally save lives. If we want to build software that tackles unsolved frontiers in human health, or our climate, this is the only way"
The round was led by Guinness Ventures with participation from Beaubridge, Juno Capital Partners, Qatar Science and Tech Holdings, and Celeres Ventures.
"Given that human capital costs are almost always one of the highest outgoing expenses in any business, not having a highly trained workforce who have easy access to the information they need to upskill fast is costing enterprises hundreds of millions of dollars every year and limiting their growth potential."
The funding follows a £75m raise in February and will support ongoing growth and retail lending.
"I’m delighted that the bank’s continued success means that BBVA, Toscafund and Infinity Investment Partners have added to their stake in Atom, and taken new capital investment during 2022 to over £100m. Our prudent, secured lending model, backed by award winning retail savings allows us to make the very most of capital to support income growth and boost customer numbers. This will remain our focus."
Leo Capital and Passion Capital led the pre-seed round to help challenge traditional card payment rails.
"We are grateful to have the support and partnership of such strong investors validating our plans to break the card payment duopoly in the UK and to improve cash flows and economics for the country’s small merchants. At a time of record inflation and in the midst of a cost-of-living crisis, the UK’s small and medium merchants are struggling to contain their costs, provide great service to the customers, and maintain profit margins. Atoa is here to empower merchants and to improve their cash flow and bottom line."
