Investment platform Atom Finance will expand to South Florida after raising $28 million in a Series B funding round led by the SoftBank Latin America Fund.
Atom Finance, headquartered in New York, announced it will use the funding to establish an office in Miami and build out its product, engineering, growth and business development teams.
"Our partnership with SoftBank and new capital will allow us to reach more investors, continue to enhance the experience we provide to users, and accelerate our [business to business] product integration efforts with financial institutions,” said founder and CEO Eric Shoykhet, who will lead the Miami office.
Massachusetts-based General Catalyst and Brazilian venture capital firm Base Partners also participated in the funding round. The capital injection comes on the heels of Atom Finance's recent partnership with Banco Inter, a digital banking service in Brazil.
Atom Finance has raised nearly $50 million from venture capital firms and angel investors since its founding in 2019. The online platform provides financial information, analyst estimates, U.S. Securities and Exchange Commission filings and more to help professional and individual investors make educated investment decisions.
Atom Finance reports premium-tier subscriptions for the service are up by more than 250% since early 2021, coinciding with a retail investment boom that began during the Covid-19 pandemic. The company is exploring additional partnerships with banks that want to upgrade their existing investment products.
“Atom is disrupting the investment research market through the implementation of best-in-class technology, software and sector expertise,” said Shu Nyatta, managing partner of the SoftBank Latin America Fund and head of SoftBank’s Miami office.
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