Toggle AI, a provider of artificial intelligence (AI) solutions for hedge funds and American banks and brokerages, has announced the acquisition of Atom Finance, a financial data and analysis platform.
The financial terms of the deal were not disclosed.
Atom Finance is engaged in providing frontend infrastructure for banks, wealth managers, brokerages, and financial technology companies.
According to Toggle AI, the acquisition will allow it to enhance its offerings by incorporating Atom Finance’s suite of features. This is expected to expand the former’s data universe and offer a more comprehensive investing experience for users.
Toggle AI CEO and co-founder Jan Szilagyi said: “By integrating Atom’s expertise and resources into our ecosystem, we will unlock new opportunities to provide value and insight for our users.
“Together, we will continue to push boundaries, and empower investors with the tools they need to thrive in today’s dynamic markets.”
As part of the acquisition, venture capital firms SoftBank and General Catalyst will join Toggle AI’s capitalisation table. This underscores the collaborative effort to solidify its position as a leading provider of intelligent investing solutions, said Toggle AI.
Toggle AI partners with a select number of clients in the financial industry, offering customised solutions. Founded in 2019, the generative AI fintech startup caters to institutional investors by delivering curated insights on individual securities and broader portfolios.
Toggle Terminal, one of its flagship products, provides investors with a unique window into their portfolios, highlighting the driving factors behind their securities and potential impacts on their holdings.
Based in New York, London, and Tokyo, Toggle AI is led by a team of industry veterans.
The acquisition of Atom Finance is said to mark a key milestone for Toggle AI in its efforts to disrupt the financial technology landscape and assist investors worldwide.
Atom Finance CEO Ivan Zlatar, who has now become CRO of Toggle AI, said: “Joining forces with Toggle AI is an exciting new chapter for Atom.
“Our combined technology will build a groundbreaking new platform for the financial services industry.”
