Atomic raises $22 million

Atomic, the payroll connectivity startup, has secured $22 million in Series A financing. Core Innovation Capital led the latest round of funding, with participation from existing investors Portag3 Ventures and Greylock Capital Management. To date, Atomic FI has raised $38.6 million.

Founded in 2019, Atomic’s payroll APIs enable consumers to 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 and employment verifications. The startup’s APIs are used by some popular names including Coinbase and Dave, and it is on track to cover more than 120 million working Americans by year end.

“Today’s broken financial services infrastructure hurts everyday Americans, especially those living paycheck to paycheck,” said Arjan Schütte, Founder and Managing Partner of Core Innovation Capital. “Atomic is at the forefront of creating a faster, safer and more inclusive financial infrastructure and shares Core’s mission of financial empowerment.”