Discovered: $9 Million Gathered and Asset Acquisition of ATOM Completed
Trovata Acquires ATOM, Revolutionizing Treasury Technology
In a significant move, Trovata has announced the acquisition of ATOM, an enterprise Treasury Management System (TMS) from Financial Sciences Corporation. This merger marks a generational shift in treasury technology, creating the first modern, cloud-native, comprehensive Treasury Management System (TMS) alternative to legacy incumbents.
The integration of ATOM's deep treasury capabilities, such as debt and investment management, intercompany transactions, FX hedging, and payment workflows, with Trovata's AI-powered, API-driven, serverless microservices platform, results in a highly scalable, flexible, and robust treasury platform. This platform is designed to meet the needs of large global enterprises, challenging traditional, outdated treasury systems.
Alf Newlin, Co-Founder and CEO of Financial Sciences, stated that ATOM was built for complexity and designed to serve Fortune 500 treasury teams with global scale. Brett Turner, Founder and CEO of Trovata, echoed this sentiment, stating that with ATOM, Trovata has the firepower to compete directly with legacy incumbents and replace them.
Turner further emphasized that this acquisition accelerates the modernization and democratization of treasury technology, enabling corporate finance and treasury teams to move beyond spreadsheets and legacy software towards real-time cash visibility, intelligent forecasting, and streamlined money movement in a unified cloud platform.
In addition to the acquisition, Trovata has announced a strategic extension of $9 million to its Series B funding round, increasing its total funding to $80 million. This extended funding round attracted new investors, including State Street Corporation and The PNC Financial Services Group. Previous funding was provided by major financial institutions, including J.P. Morgan, Wells Fargo, and Mastercard.
Turner also mentioned that Trovata's platform, now integrated with ATOM, is the only true cloud-native treasury platform in the market with meaningful scale. Newlin added that combining Trovata's platform architecture and bank distribution model with ATOM's comprehensive and battle-tested treasury system creates a solution that's both powerful and unmatched.
Trovata's TMS-suite platform is designed to transform how companies manage cash and risk. The AI-powered, API-driven platform offers real-time visibility, intelligent forecasting, and seamless money movement. The system is built on a serverless, microservices architecture for rapid deployment and instant scalability.
In summary, the acquisition consolidates Trovata’s position as a new major competitor in treasury tech by offering unprecedented scale, speed, and feature depth, and by addressing the pressing demand for modern treasury solutions in large enterprises.
- This acquisition of ATOM by Trovata signifies a significant step in the business world, as it combines technology with finance to revolutionize the treasury sector, offering a modern, cloud-native, comprehensive Treasury Management System (TMS) that directly competes with legacy incumbents.
- With the integration of ATOM's deep treasury capabilities and Trovata's AI-powered, API-driven, serverless microservices platform, a highly scalable, flexible, and robust treasury platform has been created, catering to the needs of large global enterprises, challenging traditional, outdated treasury systems in the business and finance sector.
