- Brooklyn-based FinTech company Atom Finance announced recently that it raised $10.6 million in funding.
Atom Finance — a Brooklyn-based FinTech company that is building the next-generation investment research platform — announced recently that it has raised $10.6 million in Series A funding led by General Catalyst. Including this funding round, Atom Finance has raised a total of $12.5 million. Greenoaks, Global Founders Capital, Untitled Investments, Mail.ru, Lachy Groom, Lee Fixel, and Zach Weinberg and Nat Turner participated in this round.
In conjunction with the funding round, Peter Boyce of General Catalyst is taking a board seat at the company.
“Right now investors are stuck between researching via overpriced, clunky institutional platforms or through low-quality retail investor websites. We believe there’s an opportunity to build a best-in-class investment research platform that caters to both sophisticated professionals and the mass market,” said Atom Finance founder and CEO Eric Shoykhet. “We have an ambitious product roadmap and look forward to working with the team at General Catalyst. They’ve got deep experience in building trusted brands in fintech and the resources needed to help us reach meaningful scale.”
With this funding round, Atom will be scaling up its internal engineering team and bring on experienced members for growth, product marketing, and operational functions.
“Eric and the Atom Finance team have thoughtful design and customer-centricity at their core,” added General Catalyst principal Peter Boyce II. “There’s a real opportunity for them to build a new innovative and enduring platform at the intersection of technology and finance. We’re excited to back this team and to be doing it in the epicenter of finance: New York City.”
Atom’s public beta has seen great promise with more than 80,000 sign-ups since its launch in June. And the company is focused on adding new advanced features as well as preparing for the launch of its native mobile app due later this year.
“Institutional products are inaccessible to individuals due to their price point, and retail investing sites tend to focus more on serving ads than on the content itself. In both scenarios, the user experience has largely been an afterthought. We believe we can provide that same institutional-quality experience to everyone. We want to do it in a platform that’s straightforward and delightful to use, whether you’re a seasoned investor or just starting out,” explained Adam Baitch, a Product Lead at Atom Finance.
Atom’s platform offers an ever-growing arsenal of powerful research and portfolio monitoring tools to anyone. And its user interface is optimized for productivity and works across devices. Plus it offers a high-quality data, documents, news, and events for companies with easy aggregation and comparison.