Brooklyn-based investment platform Atom Finance has bagged $10.6m in a Series A round led by General Catalyst, the venture capital firm.
Other investors participating in the round included investment companies Greenoaks, Global Founders Capital and Untitled Investments.
The round also included cash injections from angel investors like Cardnap’s co-founder Lachy Groom and the former head of Tiger Global’s private equity business Lee Fixel as well as the two Flatiron co-founders Zach Weinberg and Nat Turner. The Russian internet company Mail.ru. also contributed to the round.
The latest round brings the total funding invested into the startup to $12.5m. Atom Finance will use the money to grow its engineering team as well as its marketing and operational functions departments.
Atom Finance launched its beta to the public in June. Since then, over 80,000 people have signed up. The company is focused on adding new advanced features as well as preparing for the launch of its native mobile app, which is due later in 2019.
“Right now investors are stuck between researching via overpriced, clunky institutional platforms or through low quality retail investor websites,” said Eric Shoykhet, founder and CEO of Atom Finance. “We believe there is an opportunity to build a best-in-class investment research platform that caters to both sophisticated professionals and the mass market. We have an ambitious product roadmap and look forward to working with the team at General Catalyst. They’ve got deep experience in building trusted brands in fintech and the resources needed to help us reach meaningful scale.”
General Catalyst made the headlines earlier this week when it participated in payment scaleup Rapyd’s $100m Series C round.
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