Atom bank, the UK based challenger back acquired Grasp, a design and development house, expect to see more of these trends also of Banks to bring in expertise via acquihires
A day after Finnish online bank Holvi got acquired by BBVA, here comes yet more consolidation in Europe’s fintech landscape. Today, Atom Bank — a still stealth, online-only startup, coincidentally also backed by BBVA — announced its first acquisition: Grasp, a design and development house based out of the north of England. Terms of the deal are not being disclosed, an Atom spokesperson told me. Grasp had already been working with Atom as an outside agency, creating the “shop window” for Atom, in the words of Edward Twiddy, Atom’s Chief Innovations Officer. So this is partly about bringing more of that relationship in-house to work on deeper projects. As part of the deal, the head of Grasp, Brian Jobling, will become Atom’s business development director.