Atom Finance, a startup whose platform streamlines financial research for consumers, launched its mobile app today.
Investing is a critical part of long-term financial stability, but it’s an area that can be a bit daunting for many. This New York-based company was created to make professional investment research more accessible.
“Consumers are already at an inherent disadvantage to institutional investors, and the barriers to quality investment research only exacerbates the issue,” said Ray Yang, the company’s growth lead, in an email. “We’re doing our part to level the playing field by democratizing the tools and resources used by professionals working in the investment industry.”
Some of Atom’s key features include Sandbox, which allows users to create simple financial models directly within the platform, a search tool called X-Ray that helps users to find references to keywords across news, and Portfolio, a place users can link their investment accounts and see real-time portfolio statistics and diversification.
Users can then share all this information with each other on Collaborate, Atom’s discussion board.
This isn’t a new concept. Sites like Yahoo Finance, Bloomberg Terminal and CapIQ have been around for years. However, Yang insists these existing solutions are either too rudimentary or too expensive — Bloomberg Terminal, considered by many to be the industry leader, costs $24,000 a year to use.
“We’re building something that is not only accessible from a cost standpoint but also competes with the functionality of professional investment research tools,” Yang said. “Existing solutions from incumbents have seen little product innovation and no longer meet basic user needs and expectations. Atom is built on a modern tech stack with the highest software standards, which allows us to rapidly iterate and quickly improve and develop new features based on user feedback, which today’s consumers expect from tech products.”
Since its founding in 2018, Atom says it has 100,000 users, which it helps manage $400 million in assets. It has also raised more than $12 million in funding, which the company says will help it monetize its product through premium tiers that will offer even more rigorous search tools.
For now, this launch marks an important milestone for the company, says Yang.
“We are focused on bringing the same powerful tools and functionality from our web application to mobile devices and also introducing some native features as well,” Yang said. “The team is also working on a suite of new content and collaboration features that will make the platform even more enticing.”
