Trovata buys treasury management system Atom
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Developed by Financial Sciences Corporation, Atom boast a deep treasury feature set, including support for debt and investment instruments, intercompany transactions, in-house bank support, credit facilities, FX hedging, full domestic and international payment workflow, bank fee analysis and bank account management.
It will now be integrated into Trovata's cloud-native platform built on corporate banking APIs and AI, in what the firm claims makes it the first modern, viable TMS alternative to the legacy incumbents.
In addition, Trovata has raised $9 million in a Series B extension from State Street and The PNC Financial Services Group. This brings the company's total funding to $80 million, with investors including JP Morgan, Wells Fargo, National Australia Bank, Capital One Ventures, and Mastercard.
"There hasn't been a new TMS built in nearly three decades," says Brett Turner, CEO, Trovata. "We pioneered corporate banking APIs and the only true cloud-native treasury platform in the market with meaningful scale. Now, with ATOM, we have the firepower to compete directly with the legacy incumbents—and replace them. This isn't just expansion. It's a generational shift in treasury tech."
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