Atomic’s platform, in particular, enables banks, fintech, and others to provide investing as a white branded service to their customers without the difficulties that come with it. As a result, it handles everything from regulatory compliance to buying and selling to portfolio management, freeing businesses from investing money and effort in building the necessary connections, operations, and other infrastructure.
“We’ve done the tough work for them,” Dindi adds. “They shouldn’t be reinventing the wheel.”
According to Dindi, the platform will be launched by more than a dozen companies over the next several months.
Thousands and Thousands of Potential Clients
The platform offers two tracks to appeal to a wide range of prospective traders. Customers who are more knowledgeable or confident may establish their portfolios. Everyone else provides their risk profile and investment preferences, such as avoiding private prisons or supporting companies that address climate change. The programme then creates a custom portfolio of more than 100 shares. Traders also get some knowledge of the stock market due to this process.
Finally, by collaborating with banks and other businesses that serve hundreds of thousands of clients, it is feasible to attract many new customers. Dindi explains, “That’s how we optimise our attainment.” Furthermore, the platform enables smaller businesses to use the service with little resources.
Dindi views the platform as a step forward in the growth of an investment. Companies like Vanguard and Constancy extended access to investing in the first phase, throughout the 1970s, by distributing mutual funds. More recently, digital platforms such as Wealthfront or Robinhood allowed more people to invest at a lower cost. The third component is outsourced platforms, which allow relevant organisations to offer investment firms without the hassles and costs of regulatory, operational, and technological overhead.
“When you focus on democratising access to building wealth, it’s about providing the infrastructure to let everyone from a tiny bank to a large fintech to enable end-users to participate in investing,” Dindi explains.
Funding of $25 million
Dindi came up with the idea for the company after several people approached him for investment advice due to his skills in technology and finance. It also brought to Dindi the barriers that prevent large numbers of ordinary people from participating. He felt that a new strategy was required to make wealth creation more accessible to a larger population via investment. With such in mind, he founded Atomic in the year 2020.
After that, Dindi built the platform and obtained a total of $25 million in funding, the most recent of which was a Series A from QED Traders and Anthemis with support from Softbank and Y Combinator.