Member Article

Digital bank backed by £50 million Newcastle investment firm

Newcastle-based investment firm Middleton Enterprises says it’s backing a digital bank with a six-figure deal.

The £50m investment company, founded by high-profile businessman and philanthropist Jeremy Middleton, has selected Atom Bank for investment, based on its potential to add value and growth to the North East.

Although Middleton Enterprises has a strong record of supporting growth businesses, the Atom Bank deal is a rare venture into backing a start-up.

Jeremy Middleton said: “This investment in Atom Bank reflects my belief that we need more high-quality, national businesses in the North East.

“The efforts of organisations such as the North East LEP are helping to create an environment in which such businesses can thrive and Atom Bank is leading the way in recognising this and acting.

“Not only does Atom Bank fit the bill in this respect, I believe it can bring real growth to the region and add value to our economy, and I am proud to be getting behind Anthony Thomson and his team.”

Anthony Thomson, Chairman of Atom Bank, added: “Support and investment from organisations such as Middleton Enterprises and influential individuals such as Jeremy will help to get Atom Bank off to a great start.

“This is a very important endorsement for the bank. Not only because of the finances involved, but because investors and business leaders in the region recognise that Middleton Enterprises support businesses they believe have great potential to improve the economy in the North East.”

This was posted in Bdaily's Members' News section by Martin Walker .