The mobile banking company, expected to officially launch early next year, raised the money in a round led by BBVA, which invested $68m for a 29.5% stake.

UK-based mobile financial services provider Atom Bank has raised £82m ($124m) in a round led by financial services firm BBVA, TechCrunch reported yesterday.

The round also included existing investors Woodford Investment Management and Toscafund Asset Management, as well as Marathon and Polar Capital, and increased Atom’s overall funding to £135m.

Atom is developing a mobile banking service that will aim to capture a youthful customer base when it launches in early 2016. It secured a banking license in June this…