European expansion gains momentum for Atlas, securing $18.1 million in investments to fuel growth
Atlas Consolidated Secures $18.1 Million for Global Digital Banking Expansion
Atlas Consolidated, a leading player in the digital banking sector, has raised $18.1 million in a Series B funding round. This investment will propel the company's global vision, enabling future-ready, digitally native, and customer-focused banking experiences worldwide.
The funding will contribute to Atlas Consolidated's expansion into new markets, including the United Kingdom. The company has established a strategic European foothold with the establishment of its London-based subsidiary, Atlas Capital Partners, serving as its European regional headquarters.
In 2023, Atlas Consolidated launched HugoBank through a joint venture with Getz Inc. and Muller & Phipps in India, Switzerland, the United Arab Emirates, and Pakistan. HugoBank is a digital banking proposition enabled by Atlas Consolidated's flagship platform, HugoHub.
HugoHub is a modular, end-to-end solution designed for digital banking. Institutions can deploy fully integrated digital banks from the ground up or selectively adopt key modules such as accounts, wallets, and payments. The platform aims to reduce technology spending by up to 90%.
Atlas Consolidated's step-by-step deployment model ensures banks can modernize seamlessly, integrating digital capabilities without disrupting existing legacy systems. David Fergusson, CEO of Atlas Consolidated, stated that the investment will accelerate HugoHub's expansion to new markets, including the United Kingdom.
HugoHub is Atlas Consolidated's flagship core-to-customer platform, designed for digital banking. It is a versatile solution, allowing financial institutions to tailor their digital banking propositions to meet the unique needs of their customers.
The latest funding round is aimed at advancing Atlas Consolidated's global vision. With the investment, the company is poised to reshape the global banking landscape, making digital banking more accessible, efficient, and customer-centric.
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