Atomic, an investing API that allows financial technology companies and other financial firms to seamlessly integrate investing into their products, announced its launch yesterday with funding of approximately $25 million.
Founded by Stanford graduates and serial entrepreneurs, the company aims to make investing and wealth-building accessible to everyone. According to Atomic, Fintech firms and banks can now introduce investing experience in a matter of weeks without the burden of complex expertise through its services.
As far as partnerships are concerned, Atomic has already collaborated with fintech platforms like Upside. Through the API of Atomic, Upside established a comprehensive wealth management offering.
“Any fintech or bank that wants to become their end-customers primary financial relationship will need to offer investing on their platform to remain competitive,” said David Dindi, Atomic’s CEO. “As an accelerant in the rapidly evolving ecosystem of unbundled financial services, Atomic enables these businesses to offer investing in a frictionless way as a means to deepen their relationships with customers.”
Atomic highlighted that David Dindi will serve as CEO of the company alongside Marco Alban who will serve as CTO, amid the company’s global expansion.
Investing Ecosystem
Currently, the global investment market is worth trillions of dollars. Emerging investing products like Exchange -traded funds (ETFs) have changed the way people invest in global markets. Through its investing API, Atomic is planning to offer innovative investment solutions to companies operating in the global investing ecosystem.
“What we see is that fintech and other consumer-facing companies want to offer savings and investment, but most have come to market with very limited product offerings, only single stock trading or only ETF investing,” says Amias Gerety, Partner at QED Investors. “Atomic provides cutting edge solutions so that their partners can offer both of these products easily, but also offer advanced features like ESG, direct indexing and tax loss harvesting that are usually only available for accounts with hundreds of thousands of dollars in them.”
Furthermore, SoftBank and Y Combinator joined the latest investment round.
