Warren Buffet once said, “risk comes from not knowing what you’re doing.” So one way to mitigate risk while investing is to, well, know what you’re doing.
Atom Finance has made it its mission to help people make informed investing decisions by giving them access to the right resources. The fintech company has built an online platform that gives people up-to-date info about the stock market, the latest financial news, integrated discussion boards, historical financials, valuation metrics and more.
All these tools help people make smart decisions about investing, but it’s important to make them easy to understand for the everyday investor. So Atom Finance puts a big emphasis on user experience.
“Institutional products are inaccessible to individuals due to their price point, and retail investing sites tend to focus more on serving ads than on the content itself. In both scenarios, the user experience has largely been an afterthought,” Adam Baitch, Product Lead at Atom Finance, said in a statement. “We believe we can provide that same institutional-quality experience to everyone. We want to do it in a platform that’s straightforward and delightful to use, whether you’re a seasoned investor or just starting out.”
On Tuesday, Atom Finance announced that it closed a $10.6 million Series A, which was led by General Catalyst. This brings the company’s total funding to $12.5 million.
At less than a year old, Atom is still a new company with a small team. So this funding will play a big role in expanding it. Atom is looking to hire more engineers to build out its platform, as well as hire experienced people for growth, product marketing and operational roles.
“Right now we’re at the rapid-scale phase,” Atom Finance founder and CEO Eric Shoykhet told Built In. “We’re focusing on optimizing our platform and scaling so we can acquire more users.”
Atom launched the web version of its platform in June, and now it’s getting ready to roll out its mobile app. Along with the app, Atom Finance says it’ll be adding new features to its platform — like the option to link your brokerage account to its platform and get information tailored to your account.
Shoykhet spent his career working in finance before starting Atom. Having tried plenty of the investing tools out there, he noticed that they were mostly clunky and hard to navigate. He built Atom’s platform for investors who had the same problem as him. And as the company scales, he says he’ll always look at the platform from a customer’s perspective.
“We’re a user-first company,” he told Built In. “It’s how we think about everything we do.”
