Atlas raises $18.1m to accelerate European growth

By Vriti Gothi

Atlas Consolidated has raised $18.1 million Series B funding round, in its mission to reshape the global banking landscape through digital-first, customer-centric solutions.

At the heart of this expansion is HugoHub, Atlas Consolidated’s flagship “core-to-customer” platform. Designed as a modular, end-to-end solution, HugoHub enables financial institutions to launch and scale digital banking propositions with speed and precision. Institutions can deploy fully integrated digital banks from the ground up, or selectively adopt key modules such as accounts, wallets, and payments, depending on their business strategy. By combining flexibility with advanced technology, HugoHub positions banks and financial service providers to innovate rapidly while remaining aligned with evolving customer expectations.

Atlas Consolidated highlights HugoHub’s potential to reduce technology spending by up to 90%, a critical advantage in an era of cost-sensitive transformation. Its step-by-step deployment model ensures banks can modernise seamlessly, integrating digital capabilities without disrupting existing legacy systems a key differentiator for institutions seeking to innovate without overhauling infrastructure.

David Fergusson, CEO , Atlas Consolidated, said, “This investment marks a pivotal step in our mission to build better banks through technology. It will accelerate HugoHub’s expansion to new markets, including the United Kingdom.”

In preparation for this growth, Atlas Consolidated established a London-based subsidiary in January 2025, creating its European regional headquarters to support market entry and client partnerships. This new hub builds on Atlas Consolidated’s established presence in India, Switzerland, the United Arab Emirates and Pakistan, where the company launched HugoBank in 2023 through a joint venture with Getz Inc. and Muller & Phipps.

With this latest funding round and its strategic European foothold, Atlas Consolidated is positioned to advance its vision of enabling future-ready, digitally native, and customer-focused banking experiences worldwide.