Atomic lands $40M in funding, just five months after its Series A, to connect banks and fintechs to consumers’ paychecks

Date:

Atomic, a salary API supplier, has raised $40 million in Series B grant money, just five months after declaring its Series A round. Atomic’s latest contest was co-led by Mercato Partners and Greylock, which the business described as “preventative,” indicating that it was contacted by shareholders rather than wanting to secure funding.

Atomic FI is a new tech company that develops brands that encourage consumer participation in financial products. It intends to release a range of products, including the first will be a balance transmission outcome for credit cards, home equity lines of credit, and possibly auto loans.

Recent News

Fintech Payroll API Atomic has fostered $40 million in advance Series B financing. Core Innovation Capital, Portage, and ATX Venture Capital also participated in the round, which was co-led by Mercato Partners as well as Greylock. It follows a $22 million Series A in October 2021, bringing the company’s total funds generated to around $78.6 million. The funds will be used to broaden the fintech’s working population and create new products. Atomic intends to use its APIs to create customer information stored within payroll facilities available and usable. Customers of this financial technology include Coinbase, Dave, Welcome Tech, and Propel. It aims to achieve 125 million workers through over 450 distinct payroll plug – ins.

About Atomic

Atomic was originally established in January 2019 by Jordan Wright, Scott Weinert. The business’s main offices are in the Western US regions. The company is still in operation, and its most recent round of financing was Series B. The corporation ‘s lawful title is Atomic FI Inc., and its type of business entity is For Profit. The company focuses on Banking, Financial Services, and Lending. 

Their mission is to assist the most monetarily disadvantaged people. Atomic is dedicated to creating an amazing enterprise while also making a significant impact on society. Currently based in Salt Lake City, Utah, with a secluded team spread all over Cali, Nyc, South carolina, Denver, Texas, Colorado, Rhode Island, Connecticut, Portland, Arizona, Washington, Virginia, Massachusetts, Pennsylvania, Ohio, and wherever talent can be found. They are endorsed by widely respected investors who have earlier endorsed Coinbase, Wealthfront, Workday, Discord, and Facebook in their goal of assisting the most vulnerable citizens of their society access translucent banking services they can trust.

Atomic for Banking Industries

Atomic is a simple way for a consumer to reroute their immediate deposit to their second account. Effective underwriting: Full access to a user’s payroll system that provides data quality that is unrivaled. Understand your customer: With thorough and verified identification info supplied by your user’s company, you can reduce KYC tension and fraud. Make yourself the principal FI: They’ve reimagined the process of transferring credit card and lending balances to a new banking institution.

Atomic for Lending Industries

Efficient underwriting: Take advantage of real-time access to work status and fine grained income data. Confirm detailed information about your borrower’s individuality.

Previous Fundings

atomic has received a total of $68.6 million in funding over five rounds. On March 3, 2022, they received a Series B round of financing. Seven investors have contributed to the funding of atomic. The most recent venture capitalists are ATX Venture Partners and Portage Endeavors.

Conclusion

Atomic, a salary API supplier, has raised $40 million in Series B grant money. Atomic’s latest round was co-led by Mercato Partners and Greylock. The company intends to release a range of products, including the first will be a balance transmission outcome for credit cards.

What is Atomic?

Atomic FI is a new tech company that develops brands that encourage consumer participation in financial products.

It intends to release what?

It intends to release a range of products, including the first will be a balance transmission outcome for credit cards, home equity lines of credit, and possibly auto loans.

Who founded Atomic?

Atomic was originally established in January 2019 by Jordan Wright, Scott Weinert. The business’s main offices are in the Western US regions.

How much has the company raised to date?

atomic has received a total of $68.6 million in funding over five rounds.

What is their mission?

Their mission is to assist the most monetarily disadvantaged people.

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