Atlas Consolidated has successfully closed a $181m Series B funding round, spearheaded by Tin Men Capital, with additional investments from Getz Inc and Woodside Holdings Investment Management. This significant financial boost is set to propel the global expansion of HugoHub, Atlas’s modular cloud-native digital banking platform.
HugoHub, a complete core-to-customer Banking-as-a-Service (BaaS) platform, is designed to modernise banking by reducing technology costs by up to 90% and operational expenses by 75% to 80%. The platform allows banks to innovate rapidly, compete with challenger banks, and improve customer-to-staff ratios. “This investment marks a pivotal step in our mission to build better banks through technology,” said David Fergusson, CEO of Atlas Consolidated.
The funding will enable HugoHub to expand into new markets, offering traditional financial institutions a flexible, digital-first banking solution. Jeremy Tan, Co-Founder and Managing Partner of Tin Men Capital, expressed enthusiasm for supporting Atlas’s innovative approach, which aims to help banks in their digitalisation journey.
HugoHub’s modular design allows for step-by-step deployment, avoiding disruptive overhauls and making financial inclusion more sustainable. The platform’s cloud-agnostic architecture and AI-driven customer engagement tools further enhance its appeal to banks looking to modernise without the risks associated with full-scale system replacements.
With this new capital, Atlas Consolidated is poised to meet growing demand and extend its reach, particularly in underserved markets across Southeast Asia and beyond. The company continues to focus on building efficient, inclusive, and sustainable banking systems worldwide.
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