Atomic, an API that helps banks and FinTechs integrate investing into their products, has netted $25m in its Series A funding round.
QED Investors and Anthemis served as the co-lead investors, with commitments also coming from Softbank and Y Combinator.
The company, which was founded by Stanford graduates David Dindi and Marco Alban, was created to make wealth-building available to everyone.
Through its platform, companies can launch investing experiences within weeks, without needing to develop in-house regulatory, brokerage operations and compliance expertise.
Atomic offers a range of investment capabilities, including direct indexing, ESG investing and multi-currency trading across 60 global markets. Direct indexing is an investment approach that creates a portfolio of hundreds of individual stocks designed to mimic the returns of an index.
QED Investors partner Amias Gerety said, “What we see is that FinTechs 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.
“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.â€
The company previously partnered with Upside, an app that transforms student debt into investment opportunities. Through Atomic’s API infrastructure, Upside has created a wealth management offering that allows users to refinance student loans and reinvest savings.
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