Fintech startup Atomic announced this morning that it has closed a $22 million Series A. Core Innovation Capital led the round, which saw participation from preceding investors. The company has raised just under $39 million to date.
The company’s API-delivered product, which focuses on payroll data, helps power a number of fintech startups that we track — Dave and Bond, among others — making it an interesting company to dig into.
Atomic’s APIs allow consumers to connect their income to different services, helping them set up direct deposit at a neobank, for example. Other use cases include income and employment verification that is simpler for workers.
The company’s head of markets, Lindsay Davis, told TechCrunch in an interview that her company wants to “unlock the power of the paycheck.”
Notably, the company does not currently compete with Plaid, perhaps the best-known provider of financial APIs, according to Davis.
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