Atom Finance raises $28m Series B round led by SoftBank
US consumer investment platform Atom Finance has landed a $28 million Series B funding round led by the SoftBank Latin America Fund.
The round also included participation from existing investors General Catalyst and Base Partners.
Launched in 2019, the firm provides customers access to institutional-grade investment resources.
Atom says it will use the funding to fuel global subscriber growth, build partnerships with financial institutions and grow its team.
“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,” says Eric Shoykhet, founder and CEO of Atom Finance.
“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 funding comes on the heels of the firm’s recently announced partnership with Brazilian banking platform Banco Inter as it looks to tap into the increasing consumer demand for equity markets in the country.
“Atom is disrupting the investment research market through the implementation of best-in-class technology, software and sector expertise,” says Shu Nyatta, managing partner at SoftBank’s SBLA Advisers Corp.
“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.”
With this latest round of funding, the firm claims to have raised nearly $50 million in total from venture capital firms and angel investors.
Japanese VC SoftBank has been busy over the last few months with a number of high-profile investments.
The firm poured $250 million into banking tech start-up Zeta in May before leading a $639 million funding round for buy now, pay later firm Klarna and a $250 million round for Mexican fintech Clip in June.