Durham's Atom Bank is creating 70 jobs in the North East after securing a £10m grant to fuel its expansion plans.
The mobile-only bank will create 55 high-skilled jobs in the region, including engineering and data science roles, along with a further 15 graduate and apprentice roles.
Its expansion will increase its headcount to around 418 in the North East.
Atom said it will also use the money to "address overlooked customer needs", while delivering "change and innovation". It added that the cash would help drive economic growth by allowing the bank to support small businesses.
Edward Twiddy, Atom's chief customer officer, said: "As a fast growing entrant from the North East of England we know just how hard it is to get a business off the ground and are committed to supporting smaller businesses with a streamlined and truly digital offering that will allow them to thrive."
The investment has been made after the company was awarded a £10m BCR grant. The cash has been received from Pool C of the £425m Capability and Innovation Fund (CIF), which is part of a £775m package administered by Banking Competition Remedies Ltd.
Atom Bank is also investing £15m of its own money into its growth plans.
As part of Atom's BCR bid the company has committed to using the money to create a suite of Smart Lending products designed for small businesses. They will use Atom's unique smart contract technology as well as artificial intelligence.
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The technology will be used to give businesses clarity around their financial health, and could be used to reduce barriers when applying for finance.
The suite will be free to download for all SMEs.
To further enhance its support for small businesses Atom is also making an additional £3bn of funding available. The bank aims to attract more 340,000 small businesses to its client list by March 2024.
Atom Bank recently raised £50m through a funding round designed to help the company expand. At the time the firm said it would use the money to create around 50 jobs in the region.
Over the past year Atom's total lending to homeowners and small businesses has grown 76% to £2.4bn. The company was also named in the London Stock Exchange Group's 1,000 Companies to Inspire Britain list.
The mobile bank also hit headlines when it as a strategic advisor. The superstar has been brought on board to help the company plan for the future as technology becomes more and more important.