Atomic recognized as a category-defining fintech company for its market-leading payroll connectivity in the payroll and benefits category
NEW YORK–(BUSINESS WIRE)–#fintech—CB Insights named Atomic to its fifth annual Fintech 250 ranking, showcasing the 250 most promising private fintech companies of 2022.
“This year’s Fintech 250 winners are shaping the future of financial services, from payments and banking to investing and insurance,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “Representing more than 30 countries, these companies are creating safer and more efficient payment methods, and transforming how traditional banking, insurance and investing products are delivered. Together, they not only make financial services more convenient for users, but also make them available to more people, especially traditionally underserved populations around the globe.”
“We view being named to CB Insights Fintech 250 as a major strategic accomplishment in itself,” said Lindsay Davis, Head of Markets at Atomic. “Our team has worked hard to build a category-defining fintech company. This is validation that our payroll connectivity technology is genuinely groundbreaking, and that we are succeeding in our mission: to advance fairer financial services and empower every American to unlock the power of their paycheck.”
Atomic’s mission and payroll connectivity solutions have been embraced by some of the most innovative neobanks and fintech platforms that are reshaping an antiquated financial services landscape, including Coinbase, Dave, Propel, and other Fintech 250 alumni, as well as over 125 financial institutions, fintech firms, and technology partners. Over the last three years, Atomic has expanded its payroll connectivity solutions to enable customers to digitize and automate manual processes to verify income and employment data (VOI and VOE), set up or switch direct deposit payments, tap earned but unpaid wages, repay financial obligations directly from a paycheck, and streamline tax filing processes, all with a single platform integration. Atomic has also invested in providing the most secure and sophisticated platform for consumer-permissioned payroll data and was the first market solution to offer secure delegated access through its Uplink technology.
Utilizing the CB Insights platform, the research team selected the 250 winners from a pool of over 12,500 private companies, including applicants and nominees. They were chosen based on factors including R&D activity, proprietary Mosaic scores, market potential, business relationships, investor profile, news sentiment analysis, competitive landscape, team strength, and tech novelty. The research team also reviewed over 2,000 of Analyst Briefings submitted by applicants.
Quick facts on the 2022 Fintech 250:
- Equity funding and deals: The Fintech 250 cohort has raised over $115 billion in equity funding across over 1,100 deals since the start of 2017 (as of 9/20/2022). In 2021 alone, winners raised over $51 billion across 337 equity deals.
- Unicorns: There are 159 companies with $1B+ valuations on the list.
- Global Reach: Globalization is a key theme for this year’s Fintech 250. The winners represent 33 different countries across the globe – seven more than last year. Just over half (53%) of the selected companies are headquartered in the US, which is the fewest in the Fintech 250 since 2017. The UK came in second with 31 winners (12%), followed by India with 14 (6%), Brazil with nine (4%), and Germany with seven (3%).
About CB Insights
CB Insights builds software that enables the world’s best companies to discover, understand, and make technology decisions with confidence. By marrying data, expert insights, and work management tools, clients manage their end-to-end technology decision-making process on CB Insights. To learn more, please visit www.cbinsights.com.
Atomic is the market leading provider of payroll connectivity, trusted by over 125 financial institutions, fintech firms and partners, including 12 of the largest fintech apps offering a digital-first neobank, alternative lending, crypto exchanges, and digital brokerages. Atomic’s payroll integrations provide the infrastructure to connect consumers to their financial data, automate set-up and updating of direct deposits, digitize income and employment verifications, repay financial obligations from their paycheck, access earned but unpaid wages, and tap tax filing advantages.
Atomic was selected for a 2022 Fintech Breakthrough Award for Best Banking Transaction Solution, recognized as a Top Work Places 2022, and named a CB Insights Fintech 250 in 2022. The firm has raised $78.6 million from prominent investors, including Mercato Partners, Core Innovation Capital, Portage, Greylock, and ATX Venture Partners.
For more insights on the intersection of fintech and payroll, you can subscribe to Atomic’s Intelligence newsletter.