Atoa Payments

Platform30 Churchill Place, Canary Wharf, London E14 5EU, UKFounded 2022· One of 206 Platform companies tracked by AMPulse

Atoa Payments is an Open Banking-based payment solution for UK businesses, enabling instant bank app payments and reducing card fees.

CEO / Founder: Sid Narayanan
Team Size: 51-200
Stage: Active
Total Funding: $10.3M
Latest Round: Seed
Key Investors: Valar Ventures; Passion Capital; Leo Capital

Technology & Products

Key Products

Pay by Bank (Open Banking payments); Card payments (Visa, Mastercard, Amex, Apple Pay, Google Pay); Online checkouts; Payment links; POS terminals; QR payments; Recurring payments; Xero/Shopify integrations

Technological Advantage

FCA-authorised Payment Institution (FRN #1007647); ISO-27001 and SOC2 certified; Open Banking technology enabling direct bank-to-bank payments; instant settlement infrastructure; merchant dashboard with automation features

Differentiation

Value Proposition

Atoa Payments reduces payment processing fees for UK businesses by enabling direct bank-to-bank payments via Open Banking, offering instant settlements and an alternative to traditional card schemes.

How They Differentiate

Unlike traditional card payment systems, Atoa Payments leverages Open Banking to facilitate direct bank-to-bank payments, eliminating card fees and offering instant settlements for UK businesses.

Market & Competition

Target Customers

UK businesses, SMEs, and merchants seeking lower payment processing fees and faster settlement via Open Banking.

Industry Verticals

General UK SME merchants across retail, automotive, professional services, beauty, motor trade, physiotherapy, legal services

Competitors

SumUp; Stripe; Square; traditional card payment processors (Visa/Mastercard)

Growth & Milestones

Growth Metrics

60% month-on-month growth in payments processed; $8.6M total raised across 2 funding rounds

Major Milestones

FCA authorisation as Payment Institution (FRN #1007647); ISO-27001 and SOC2 certification; Launched Pay by Bank Open Banking platform; Raised $2.2M Pre-Seed (Nov 2022) and £6.5M Seed (June 2023)

https://paywithatoa.co.uk

Why this company matters

Atoa positions itself as a specialist in multiphysics CAE simulation for additive manufacturing, targeting engineering firms and R&D departments that require validated part performance before printing. Unlike general-purpose digital manufacturing platforms that prioritize speed and automated quoting, Atoa emphasizes deep engineering validation through pre-print simulation of printer mechanisms and part behavior using COMSOL Multiphysics.

The company's core offering includes multiphysics CAE simulation services, 3D printing and prototyping, 3D scanning and digitization, and an engineering apps portal. As a COMSOL Certified Consultant, Atoa has documented multiscale modeling capabilities that span nano-to-macro scales, enabling concurrent design simulation packaged into material, product, and process solutions for virtual product development.

Atoa serves aerospace, automotive, industrial manufacturing, and research and academia verticals. Its target customers are engineering firms and product developers seeking simulation-validated additive manufacturing, particularly in the Indian engineering market where the company has established a niche. The company's proprietary simulation workflows and deep domain expertise in multiphysics CAE create high switching costs for engineering clients, forming a defensible moat.

However, Atoa operates at a smaller scale compared to global digital manufacturing platforms and lacks automated quoting infrastructure. Its focus on the Indian market and specialized CAE-to-AM workflow limits its addressable market but allows deeper technical engagement with clients requiring rigorous simulation before production.