Fintech founders back new $820m Atomico fund

By Aisling Finn on Tuesday 18 February 2020

Alternative LendingDigital BankingSavings and Investment

The entrepreneurs behind some of Europe’s most recognised fintechs, like Klarna and Transferwise, have invested in the fund.

Fintech founders back new $820m Atomico fund
Image source: Atomico

 

Atomico has announced Atomico V, an $820m funding round to “partner with mission-driven European founders at Series A and beyond”.

The venture capitalist (VC) said that Atomico V, its latest raise, was oversubscribed and closed above its original target of $750m.

According to the VC, the investors included “global institutional investors, existing and new, including pension funds, fund-of-funds, sovereign wealth funds, insurance companies, endowments, banks, family offices and government-backed entities from across the world”.

This latest raise will bring Atomico’s total assets under management (AUM) to $2.7bn.

Some of Europe’s most successful entrepreneurs, such as Spotify, Skype, Klarna and Transferwise, have invested in the fund.

Atomico said: “Backed by breakthrough technology and innovative business models, we continue to believe that entrepreneurs are the ultimate game-changers.”

“They take risks and push boundaries to rewire the world in favour of something better for as many people as possible.”

The VC also recently announced its new ‘Conscious Scaling’ programme, aimed to identify and mitigate the risks “associated with a business model and its impact on society or the environment, and all stakeholders”

“We have a responsibility as stewards of our investors’ capital, board members, and members of society to ensure we are doing everything we can to set these companies up for long-term success and avoid negative external consequences”.

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