rewrite this title Atomic Raises $10 Million to Boost Innovation and Expansion – Finovate

Atomic has raised $10 million in a strategic round led by Capital One Ventures, Citi Ventures, and FNB Corporation, bringing its total funding to nearly $79 million.

Atomic provides APIs that connect payroll and HRIS systems to financial institutions, supporting services like direct deposit switching, income verification, and subscription management.

With backing from top banks and FNB as both an investor and a client, Atomic aims to fuel deposit growth and power the next wave of personalized, real-time financial services.

Financial connectivity fintech Atomic is the latest fintech basking in this year’s fintech spring. The Utah-based company announced it has raised $10 million, adding to its $68.6 million previously raised, bringing its total funding to almost $79 million.

Today’s strategic round comes from Capital One Ventures, Citi Ventures, and FNB Corporation, which join Atomic’s previous investors Greylock, Portage Ventures, ATX Venture Partners, Mercato Partners, and Core Innovation Capital.

Atomic, founded in 2019, aims to connect consumer data with modern financial solutions. The company partners with eight of the top 10 US financial institutions, along with many leading fintechs, to provide seamless access to a suite of services—including direct deposit switching, income and employment verification, payment method updates, and subscription management—through integrations with payroll systems, HRIS platforms, and merchants.

Atomic said the new funding will fuel both innovation and expansion. The company plans to deepen its investment in existing solutions while also accelerating the development of new products to better serve its financial institution and fintech partners.

“We’re excited to have these industry leaders join us on our mission to champion upward financial mobility,” said Atomic Co-founder and CEO Jordan Wright. “Together, we’re building the infrastructure that will drive the next generation of financial products and unlock deposit growth, as well as improved experiences for our customers and the customers that work with them.”

In addition to investing in Atomic, FNB is also a client of the fintech. FNB tapped Atomic to lower acquisition costs, increase lifetime value, and become consumers’ primary financial hub.

“Through our omnichannel Clicks-to-Bricks strategy and eStore, FNB is driven to remain a banking industry leader in client engagement and innovation. We will continue to invest in and develop creative technology solutions that bring the full array of banking products and services to our digital platform and branch system,” said FNB Corporation President and Chief Executive Officer Vincent J. Delie, Jr. “Our investment in Atomic is another investment in the future of banking. By integrating their solutions with eStore, we can offer our customers more personalized, real-time financial services that meet their needs in today’s fast-paced world.”

Atomic most recently demoed at FinovateSpring 2024, where the company showcased PayLink, a tool to simplify subscription management by allowing consumers to manage, modify, and optimize their recurring payments and subscriptions within their bank.

Photo by Jakub Zerdzicki

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