Fintech Atomic FI is working to raise capital in the coming months as it seeks to expand its services to help banks meet the artificial intelligence agent moment. 

Salt Lake City-based Atomic is targeting an equity capital raise of between $30 million and $50 million, CEO and co-founder Jordan Wright said during an interview at the Money20/20 conference in Las Vegas.

Founded in 2019, Atomic has focused on direct deposit and payment switching and subscription management. The fintech works with nine of the top-10 banks and counts about 350 clients, Wright said. 

Wright said he expects current and new investors to participate in the funding round. Capital One Ventures, Citi Ventures and FNB Corp. all took part in the company’s April 2025 $10 million strategic fundraise, which brought Atomic’s total to about $79 million. 

Wright indicated the fintech is eyeing more strategic investments from large banks it works with. “I could see a world where we take in some strategic money and ask our current investors to back off a little bit, so that we can get some more strategic money around the table,” he said. 

The artificial intelligence frenzy has affected the fundraising climate, Wright noted. He referenced investors that, a year ago, would have been eager to participate in Atomic’s fundraise that are now entranced by AI companies and their growth potential. 

“The dynamic has been, with those companies, a little bit challenging, but then there's been a whole series of investors that are like, ‘Hey, we still like companies with good unit economics, good fundamentals, great clientele,’ which we have,” he said. 

Atomic declined to share revenue figures, but a spokesperson said the firm doubled its revenue from 2025 to 2026 and expects to double it again next year. The spokesperson declined to comment on whether the company is profitable.  

As the onset of personal AI agents acting on consumers’ behalf alters the competitor landscape for Atomic’s bank clients, the fintech sees opportunity, said Wright and Andrea Martone, Atomic’s co-founder and chief product officer. 

Banks seek deterministic models and mechanisms, which operate based on code that tells them explicitly how to take an action, Wright and Martone said. Atomic has built that.

The fintech is also working with Sierra AI on personal AI agent protocols.

Atomic is “working on combining all the actions and data-pulling that we’ve done over time,” to build a combined platform bank and fintech clients can use to say, “‘I’m going to go compete with Muse and allow my customer to go act on the web on my behalf,’” Wright said.

Last month, Fifth Third CEO Tim Spence said the bank aims to “take every valuable service that you can get done on Muse, whether that’s looking at subscriptions and finding opportunities to generate savings or budgeting or otherwise,” and build those into its app.

Wright said Atomic aims to work with Cincinnati-based Fifth Third on that endeavor, since the bank is already a client of the fintech’s. 

The targeted fundraise will accelerate some of Atomic’s agentic work, Wright said. “We have to continue moving fast all the time, staying up to speed with what is needed,” he said.   

Wright sees Atomic’s existing ties to big banks and fintechs, who are “constantly directing us,” as its competitive moat. “We get pushed that direction naturally,” he said.

Banks working with Atomic, in turn, get peer comparisons, since they know who the fintech’s other customers are, Martone said.

Atomic seeks to add more bank clients next year, targeting smaller banks than it initially did, Wright said. Direct deposit switching deals will keep coming, he said, although he’s told investors that that market isn’t big enough for a huge business. 

“We needed to expand in order to create a large business, and so we need people that not only want to do that, but want to do other things with us as well,” Wright said.

An initial public offering isn’t on the horizon as long as Wright is at the helm, because he has “no desire to be a public company CEO,” he said.

Finding an acquirer isn’t a priority for Atomic, either, although if the company received a compelling offer, Wright said he would consider it in the interest of the firm’s shareholders and employees.