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Lindsay Davis Oct 13, 2021 46 min read

A Series A of Fortunate Events

Hi there ­­🙋🏼‍♀️,

We held this month’s newsletter to share A special announcement with you first. 

Today we announced our $22 million Series A to double down on talent acquisition while scaling its best-in-category product experience. We are thrilled to have Core Innovation Capital and Portage Ventures co-lead our latest round of funding, with participation from existing investor Greylock Capital Management.

In addition to our investors, we could not have achieved this milestone without your trust and the more than 40 financial institutions, fintech and technology firms, including 11 of the largest consumer finance apps, that we work with.

Our technology is enabling innovative fintech solutions that reach more than 1.5 million unique consumers a month through leading financial providers, including:

  • Coinbase, to enable greater access to the cryptoeconomy, through trading, spending, saving, and earning;
  • Dave, to help consumers avoid predatory overdraft fees on its mission to create financial opportunity that advances America’s collective potential;
  • Welcome Tech, to provide unbanked immigrants with access to checking and savings accounts;
  • Propel, to help consumers manage government benefits and money through its financial app, Providers;
  • Lendtable, to empower employees to optimize their benefits and retirement planning;
  • Klover, to help consumers improve their financial freedom and access their earned wages early;
  • Unfimoney, to help next-gen investors achieve long-term investment and savings goals;
  • Bond, to enable developers and brands to embed financial products and build the next generation of personalized fintechs.
  • MX, to empower the world to be financially strong through data-driven money experiences;

The funding comes as our company continues to set new benchmarks for the industry including our coverage of over 450 payroll integrations that reach more than 120 million Americans, or 75% of the country. 

Our traction and this funding secure Atomic’s payroll APIs as the leading way for consumers to securely connect their payroll accounts to a third-party banking app to set up or switch direct deposit payments and to access financial data for income (VOI) and employment (VOE) verifications. 

Atomic was created to build a new generation of bank accounts and transform banking applications into consumer-centric platforms. This infusion of capital will be focused on continuing to deliver cutting-edge financial solutions and working towards achieving our mission to help the most financially vulnerable members of our society access transparent financial services that they can trust. 

In this edition of Atomic Intelligence we share insights on:

  • Our Series A announcement & media coverage
  • Upcoming events and opportunities to meet the Atomic team IRL
  • Our partnership announcement with Bond
  • Replay our Moov Devcon Workshop & FIS Venture Center demo day
  • Discuss the news on the LendIt livestream and more

We’re just getting started,

Lindsay

P.S. Thank you to TechCrunch for breaking the news and the media outlets covering the round, though Lemony Snicket is noticeably missing.

 

 

Leading Payroll API, Atomic, Announces $22 Million Series A To Build A New Generation Of Bank Accounts

Read our full Series A press release here and how we’ll use the the funds to to double down on talent acquisition while scaling its best-in-category product experience.

Read article

 


 

October is going to be a busy month for the Atomic team! For the chance to meet Atomic on the road, check out event details below.

  • Empire Startups Fintech Conference Tuesday, October 19, 2:30pm EST (40 min), New York – Atomic’s Jeff, CRO and I will be there
  • FEDFis Roundup Wednesday, 20-22 October, Fredericksburg – Atomic’s CEO and co-founder Jordan, Director of Financial Institution Sales, Marcy, and Director of Partnerships, James will be there
  • Money 2020 Sunday October 23 – 26, Las Vegas – Register here for our events and to book time to meet Atomic’s CEO and co-founder Jordan, CTO and co-founder Scott, CRO, Jeff, Head of Customer Success, Francesca, Director of Partnerships, James, and I will be there

 


 

Meet us at Money 20/20

October is going to be a busy month for the Atomic team! For the chance to meet Atomic on the road, check out event details below.

Session: “Banking the Unbanked with Payroll APIs”

The COVID-19 pandemic accelerated the evolution of neobanks as many consumers transitioned from engaging with their banks in-branch to in-app. In extreme scenarios, neobanks became a safe haven for excess cash for medium- and higher-income households and a financial lifeline for lower-income households. In conversation, we will unpack how neobanks can innovate with alternative data via Payroll APIs to make lending products more accessible for thin-file, underbanked individuals.

Speakers: Jimmy Chen, CEO and Founder of Propel, Susan Ehrlich, Atomic advisory board member, Lindsay Davis, Atomic’s Head of Markets (hi ­­🙋🏼‍♀️), moderated by Nik Cremo, Vice President of Equity Research at Credit Suisse

Date: Tuesday, October 26th @ 11:40 AM – 12:20 PM (PDT)

Want to meetup at Money 2020?

Book time with the team and register for our events here:


 

The Unwind

We are co-hosting a Money 20/20 Starlight Soirée with Bond, Rally, Bevel, & Yieldstreet

Date: Monday, October 25th @ 9PM (PDT)

Register here

 


 

Game Night at RedTail Room

We are co-hosting a Game Night with Unit, CurrencyCloud, and VGS

Date: Tuesday, October 26th @ 8PM (PDT)

Register here

 


 

Empire Fintech Conference

Session: Everything(ish) is Fintech

From real estate developers embedding insurance products to e-commerce businesses offering a suite of lending solutions, every company may soon offer some form of FinTech. This panel includes those inventing the modern financial stack through data APIs, banking-as-a-service (BaaS), and embedded financial tools to unlock accounting, banking, payments, wealth, lending and commerce.

Speakers: Peter Lord, CEO and Co-founder of Codat, Julia Lamb, CEO of Stytch, Claudia Gonzalez, Director of Product Marketing at Finlync, Lindsay Davis, Atomic’s Head of Markets (hi ­­🙋🏼‍♀️), moderated by Amy Cheetham, Costanoa Ventures

Date: Tuesday, October 19 @ 2:30 PM (EST)

Register here

 


 

Fintech Friends Happy Hour

Can’t make it to the conferences? Our friends at This Week In Fintech have you covered. Check out their upcoming global happy hours below.

Sign up

 


Insights & Event Recaps

Atomic + Bond: Building the Financial Highways of the Future

Bond and Atomic recently announced our partnership to bring the world of embedded finance and payroll connectivity together. By modernizing financial infrastructure, we aim to reduce the complexity for developers to get up and running faster.

 

Read article

 


 

Lendit Fintech Livestream

We joined Peter Renton & Todd Anderson on the LendIt Fintech Livestream to discuss the most important fintech news stories of the week. We hit on news from PayPal, Coinbase, Robinhood, Revolut, Amazon, Lendistry, MoneyLion, JPMorgan Chase & Co. and ended with a discussion on the latest with NFTs.

 

Watch now

 


 

DevCon Reverse Engineering Workshop

Check out Scott, Michael, and Alex’s workshop “Reverse engineering: If You Have to Do It, Might As Well Do It Right” from Moov’s DevCon conference to learn how to use these tools by reverse engineering Domino’s API.

 

Watch now

 


 

FIS Financial Venture Center Demo Day Recap

Did you miss The Venture Center‘s Demo Day? Catch the replay with our CEO and Co-founder Jordan Wright. Congratulations to the rest of the 2021 cohort on an awesome demo day – ArrayBankiFiBankLabsInformed.IQLong GameOakNorth BankRailz.aiVymo, and Taxstatus.

 

Watch now

 


 

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Want to talk about Payroll APIs?

 

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