On April 15, 2020, Atomic Loans announced they have raised $3.4 million in Seed Funding led by Initialized Capital. The funding will be put toward the company’s research and development efforts and will allow Atomic Loans to work to grow decentralized finance adoption on bitcoin with strategic partners. Atomic Loans aims to bring decentralized finance to the bitcoin market. Decentralized finance in the crypto space refers to financial applications that are being developed on top of blockchain systems.
Based in Toronto, Atomic Loans is a platform that enables a two-sided marketplace for Bitcoin-backed lending. This allows customers to use their bitcoin to trade or pay for expenses without dealing with tax liability or losing exposure to bitcoin price changes.
Osler, Hoskin & Harcourt LLP advised Atomic Loans with a team consisting of André Perey, Michael Grantmyre and Isaac da Silva Aboo (Emerging and High Growth Companies).