Atomic Secures $22M Series A To Expand Payroll Integrations Platform, Grow Team

Atomic, a provider of payroll connectivity technology, formally announced Tuesday the closure of a $22 million Series A.

What Happened: Atomic is a provider of payroll APIs, trusted by 11 of the largest fintech firms, including digital-first neobanks, alternative lenders, and digital brokerages.

As part of a vision to expand its payroll integrations platform and grow its team as the firm is set to reach more than 120 million Americans, or 75% of the country, by year-end, Atomic added a $22 million round led by Core Innovation Capital.

Existing investors Portag3 Ventures and Greylock Capital Management participated, also.

Why It Matters: Atomic is creating a new generation of bank accounts and transforming bank applications into consumer-centric platforms.

“The infrastructure of today’s financial services sector hurts the poor more than anyone else, especially if you’re living paycheck to paycheck,” said Arjan Schutte, Founder and Managing Partner of Core Innovation Capital. “Fintech is the greatest opportunity to solve these problems, and Atomic is at the forefront of creating a faster, safer and more inclusive financial infrastructure.”