Atom Bank plc said it raised $62.3 million ($50 million British pounds) in a funding round that included BBVA, Toscafund, Woodford Patient Capital Trust and funds advised by Perscitus. 

The U.K.-based digital bank said it plans to use the funding for additional growth and continued investments in technology, according to a company release. 

Bank officials said the company is making progress in replatforming Atom Bank into the cloud and plans to launch new products using Thought Machine's smart contract core banking technology, according to the release.

"What's important to customers is good products, good service and good value so (that's) where we've spent the majority of our time and energy," CEO Mark Mullen said in the release. 

He added that the bank will add 50 new positions to help expand its products and services starting with Instant Access savings in the fall. The bank currently has about 350 employees and has raised more than $561 million since the company launched in 2014. .