Discovered: $9 Million Amassed and Acquisition of ATOM
Trovata Acquires ATOM to Revolutionize Treasury Technology
In a significant move, Trovata, a leading corporate banking API pioneer, has announced the acquisition of ATOM, an enterprise Treasury Management System (TMS) from Financial Sciences Corporation. This acquisition marks a generational shift in treasury technology, as Trovata sets out to modernize and democratize treasury technology, positioning itself as the first viable cloud-native alternative to outdated legacy systems.
The combined solution of ATOM and Trovata's platform architecture and bank distribution model is designed to serve global finance and treasury teams. The integration of ATOM's comprehensive features, including debt and investment support, intercompany transactions, and complete payment workflow, into Trovata's platform promises unprecedented scale, flexibility, and performance.
Trovata's system, built from the ground up on a serverless, microservices architecture, allows for rapid deployment and instant scalability. This AI-powered, API-driven, and now comprehensive TMS-suite platform is designed to transform how companies manage cash and risk.
ATOM, as stated by Alf Newlin, Co-Founder and CEO of Financial Sciences, was designed to serve Fortune 500 treasury teams with global scale. According to Brett Turner, Founder and CEO of Trovata, Trovata is the only true cloud-native treasury platform in the market with meaningful scale.
The acquisition was supported by a $9 million strategic extension of Trovata’s Series B round led by major financial institutions such as State Street Corporation and PNC Financial Services, bringing total funding to $80 million. This funding underscores strong market confidence in Trovata's vision to modernize treasury technology.
By embedding ATOM’s deep treasury feature set into its platform, Trovata offers robust functions traditionally served only by complex legacy providers. The acquisition positions Trovata as a direct competitor to entrenched treasury software vendors with a more agile and innovative solution.
The combination replaces outdated legacy systems with a cloud-native, microservices architecture platform that supports rapid deployment, instant scalability, AI-powered insights, and API-driven connectivity, helping treasury teams move beyond spreadsheets and fragmented legacy tools.
In essence, Trovata’s acquisition of ATOM unlocks full treasury management capabilities under a cloud-native, AI-enabled platform designed to disrupt the traditionally slow-moving, legacy-centric treasury software market and accelerate enterprise treasury digital transformation. Trovata is dedicated to reengineering cash management, moving beyond spreadsheets and legacy systems to provide real-time visibility, intelligent forecasting, and seamless money movement in a single, unified platform for corporate finance and treasury teams worldwide.
This move is set to significantly impact the treasury technology market, offering a powerful and unmatched solution that promises to modernize and democratize treasury technology for global enterprises.
- This acquisition of ATOM by Trovata marks a significant transformation in the business sector, particularly in finance, as both entities aim to revolutionize treasury technology by introducing a cloud-native, AI-powered platform that will modernize and democratize treasury management for global enterprises.
- The integration of ATOM's comprehensive features into Trovata's technology promises to seamlessly merge technology and finance, offering enterprise finance and treasury teams a unified platform for managing cash, risk, and payments with unprecedented scale, flexibility, and performance.
