Atlas Consolidated Secures Series B Funding to Boost HugoHub Expansion

Atlas Consolidated has closed an USD 18.1 million Series B funding round, led by Tin Men Capital. This investment aims to accelerate the growth of HugoHub, the modular cloud-native digital banking platform, particularly in Europe. Strategic partners Getz, Inc. and Woodside Holdings Investment Management also participated. In January, Atlas established a UK subsidiary to facilitate its European expansion, supporting regional financial institutions.

David Fergusson, CEO of Atlas, highlighted the role of this investment in building better banks through technology. HugoHub offers a 'bank-in-a-box' solution designed to modernize banking systems, enabling them to compete with neo and challenger banks. Jeremy Tan of Tin Men Capital expressed their support, underscoring Atlas's innovative approach.

HugoHub aims to transform outdated banking systems into agile, digital-first models. The platform promises up to 90% reduction in technology spending and significant operational cost savings. With its modular design, HugoHub offers a sustainable digital transformation, expanding access to unbanked populations and facilitating financial inclusion.