Atomic Loans Valuation, Funding & Investors

Atomic Loans is valued at $900M as of April 2020.

Last Atomic Loans valuation

$900M

Seed · Apr 2020

Last Atomic Loans funding round

$3M

Seed · Apr 2020

Cumulative funding Atomic Loans raised

$3M

across 2 funding rounds

Key investors in Atomic Loans

  • ConsenSys
  • Initialized Capital
  • Morgan Creek Digital
  • Regan Bozman
  • Aaron Henshaw
  • Joseph Lallouz

Atomic Loans Overview

About Atomic Loans

Atomic Loans is a decentralized protocol for Bitcoin and cryptocurrency-backed loans using atomic swap technology. It facilitates trustless, cross-chain debt agreements on Bitcoin and Ethereum blockchains, eliminating centralized custodians to protect user funds from theft or seizure. Users set loan terms directly through smart contracts.


Founded

2019

HQ

CanadaToronto

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$900M (Apr 2020)

Atomic Loans Valuation

Atomic Loans is currently valued at $900M, based on its seed round in April 2020. Read the announcement ↗

The $3M round was led by Initialized Capital, with participation from Morgan Creek Digital, Aaron Henshaw, Mike Cohen, Russell Verbeeten, Regan Bozman and 2 other investors.

Atomic Loans valuation by funding round

Atomic Loans valuation by funding round
DateStageValuation
Apr 2020Seed$900M

Atomic Loans Funding History

Atomic Loans has raised a total of $3M across 2 funding rounds.

Atomic Loans' first fundraising round was a $200K pre-seed round in June 2019. The most recent completed round was a $3M seed round in April 2020.

Atomic Loans funding rounds

Atomic Loans funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Apr 2020SeedInitialized Capital (lead); Morgan Creek Digital; Aaron Henshaw; Mike Cohen; Russell Verbeeten; Regan Bozman; ConsenSys; Joseph Lallouz$3M$900MInitialized Capital led a seed round in Atomic Loans of CAD 3.4 million, about USD 2.45 million, announced in April 2020. ConsenSys and Morgan Creek Digital joined the round, together with angel investors Joe Lallouz and Aaron Henshaw of Bison Trails. ConsenSys had earlier backed the company with a pre-seed investment. The company said the new funds would go toward research and development and toward growing decentralized finance adoption on bitcoin through strategic partners. No valuation was disclosed. Atomic Loans was founded in January 2019 and is based in Toronto, with Tony Cai as co-founder and chief executive. It builds a non-custodial marketplace for bitcoin-backed loans, letting users borrow against their bitcoin without selling it or triggering a tax event, and focuses on bringing decentralized finance applications to the Bitcoin ecosystem.
Jun 2019Pre-seedConsenSys (lead)$200K-ConsenSys invested a $200,000 pre-seed round in Atomic Loans in 2019. The investment followed an internal pitch day at ConsenSys in November 2018, where the founders, two Waterloo computer science students then interning at ConsenSys projects, were chosen as one of two teams to be funded from seven that pitched. The founders left university in January 2019 to work on the company full time, using the money to validate the concept with customers and to build an initial product. Atomic Loans is a Toronto-based company that builds a protocol for non-custodial Bitcoin-backed loans, in which users lock Bitcoin in escrow on the Bitcoin blockchain and borrow Ethereum stablecoins such as DAI or USDC against it. The company was founded in 2019 by two former Waterloo students. The product was audited by ConsenSys Diligence and Quantstamp before its mainnet launch, and the company raised a seed round led by Initialized Capital in April 2020.

Who has invested in Atomic Loans?

8 investors have backed Atomic Loans across its funding rounds, including ConsenSys, Initialized Capital, Morgan Creek Digital, Regan Bozman, Aaron Henshaw and Joseph Lallouz.

Lead investors include Initialized Capital and ConsenSys.


Atomic Loans Investors

Investors in Atomic Loans by funding rounds participated
InvestorHQRoundsRoleFirst check
ConsenSysUnited StatesFort Worth2LeadJun 2019
Morgan Creek DigitalUnited StatesChapel Hill, NC1ParticipantApr 2020
Aaron HenshawUnited StatesUnited States1ParticipantApr 2020
Mike CohenUnited StatesSan Francisco, CA1ParticipantApr 2020
Russell VerbeetenCanadaToronto1ParticipantApr 2020
Initialized CapitalUnited StatesSan Francisco, CA1LeadApr 2020

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Atomic Loans Competitors

Atomic Loans competitors include listed companies like Katapult and Moneyview, and private ones like Madhive, Turtlemint, Npixel and Mintifi.

Public and private companies comparable to Atomic Loans
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MadhiveUnited StatesNew York City, NYPrivate$125M-$900M7.2x
TurtlemintIndiaMumbaiPrivate$72M-$900M12.5x
KatapultUnited StatesUnited StatesPublicly listed$292M$215M$938M3.0x
NpixelSouth KoreaSeoulPrivate--$861M-
MintifiIndiaMumbaiPrivate$34M$10M$850M25.0x
MoneyviewIndiaIndiaPublicly listed$349M$99M$956M-

Atomic Loans Public Comps

Atomic Loans is still privately-owned, but its public comps include Katapult, Moneyview, Funding Circle, Propel Holdings, Lufax Holding, Green Dot, FinVolution Group, Stewards, Yixin Group and Rhino Bitcoin.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Katapult$292M$215M3.3x3.0x4.5x63.1x
Moneyview$349M$99M3.9x-13.7x-
Funding Circle$298M$42M2.9x2.5x20.6x11.0x
Propel Holdings$556M$130M1.9x1.5x8.3x6.7x
Lufax Holding$3.5B-3.6x3.3x--
Green Dot$2.1B($12M)0.3x0.3x(59.6x)3.9x
FinVolution Group$2B$480M----
Stewards------

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Common questions about Atomic Loans

When was Atomic Loans founded?Atomic Loans was founded in 2019.
Where is Atomic Loans headquartered?Atomic Loans is headquartered in Toronto, Canada.
Is Atomic Loans publicly listed?No, Atomic Loans is a private, VC-backed company.
What is Atomic Loans' valuation?Atomic Loans was last valued at $900M in its seed round in April 2020.
How much funding has Atomic Loans raised?Atomic Loans has raised $3M across 2 funding rounds.
What was Atomic Loans' last funding round?Atomic Loans' last funding round was a $3M seed round in April 2020, led by Initialized Capital.
Who are Atomic Loans' investors?Atomic Loans' investors include ConsenSys, Morgan Creek Digital, Aaron Henshaw, Mike Cohen, Russell Verbeeten, Initialized Capital, Regan Bozman and Joseph Lallouz.
Which companies are comparable to Atomic Loans?Companies comparable to Atomic Loans include Madhive, Turtlemint, Katapult, Npixel, Mintifi and Moneyview.

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