Atom is planning to open an office in Miami
Atom Finance, the provider of a consumer software platform delivering access to institutional-quality investment resources, has completed a $28 million series B funding round led by the SoftBank Latin America Fund, with participation from existing investors General Catalyst and Base Partners.
The funding comes on the heels of the fintech’s recently announced partnership with Banco Inter.
Since Atom’s solution launched in 2019, the company has raised nearly $50 million from premier venture capital firms and angel investors.
Atom will channel the new funding to fuel premium subscriber growth, proliferate partnerships and integrations with financial institutions, open an office in Miami, and continue to build out a best-in-class team across all parts of the company, including product, engineering, growth and business development.
Eric Shoykhet, founder and chief executive officer of Atom, says: “We created Atom to provide unparalleled access to institutional investing resources and tools, filling the white space between overpriced, clunky institutional platforms and antiquated websites tailored to retail investors. Our partnership with SoftBank and new capital will allow us to reach more investors, continue to enhance the experience we provide to users and accelerate our B2B product integration efforts with financial institutions.”
The Atom software solution was built by investment professionals for individuals to modernise their investment experience, providing access to quality resources at an unmatched price.
Retail investor interest is accelerating at a record pace both in the U.S. and globally, driving increased consumer expectations for financial market intelligence. This desire for top-tier quality information is seen in the tremendous demand for Atom’s platform—premium tier subscribers have increased more than 250% since the start of 2021.
Simultaneously, the company is experiencing heightened interest for its white-labelled product integration both from financial institutions looking to up-level their existing investment products, as well as new entrants seeking to launch differentiated self-directed investing experiences.
Shu Nyatta, managing partner at SoftBank Latin America Fund Advisers Corp and head of SoftBank’s Miami office, says: “Atom is disrupting the investment research market through the implementation of best-in-class technology, software and sector expertise.”
“SoftBank is excited to partner with Atom as they pioneer a modernised investment experience for both investors on its platform and through B2B product integrations with financial institutions worldwide.”
The company, based in New York, plans to open an office in Miami in response to its growing footprint both in the US and abroad. Shoykhet will anchor the founding contingent of Atom employees based in Miami.
Francis Suarez, mayor of Miami, comments: “It’s very exciting to see a high-growth fintech company like Atom choose the City of Miami to accelerate the evolution of the company. They understand the value and scale that come with cultural and economic diversity, and there isn’t a city in this country better positioned for that than Miami.”