CNFinance to Hold Annual General Meeting on May 29, 2025

Rhea-AI Summary

Atomic, a financial connectivity company, has secured a $10 million strategic investment from Capital One Ventures, Citi Ventures, and F.N.B. Corporation (NYSE:FNB). The company, which currently serves 8 of the top 10 financial institutions, specializes in payroll connectivity, payment switching, bill management, and authentication solutions.

The funding will support Atomic's expansion and innovation in driving account primacy and helping financial institutions deepen consumer relationships. The company's technology enables financial institutions to lower acquisition costs, increase lifetime value, and become primary financial hubs for their users.

F.N.B. Corporation plans to integrate Atomic's solutions with its eStore platform to offer direct deposit and recurring transaction switching capabilities to customers in 2025.

Positive

• Secured $10 million strategic investment from major financial institutions
• Currently works with 8 of the top 10 financial institutions
• Partnership with F.N.B. Corporation for integration into eStore platform
• Technology helps financial institutions lower acquisition costs and increase customer lifetime value

Negative

• None.

Insights

Financial Technology Analyst

Atomic's $10M strategic investment from major financial institutions validates its connectivity solutions and positions it for growth in account primacy services.

This $10 million strategic investment in Atomic from Capital One Ventures, Citi Ventures, and F.N.B. Corporation represents significant validation for the company's financial connectivity infrastructure. The investment's strategic nature is particularly noteworthy, as it comes from established financial players rather than traditional venture capital, indicating strong industry confidence in Atomic's solutions.

Atomic has established itself as a dominant player in the financial connectivity space, working with 8 of the top 10 financial institutions. The company's core products focus on critical areas that drive account primacy: payroll connectivity, payment switching, bill management, and authentication. These solutions help financial institutions become the primary financial relationship for consumers - a critical competitive advantage in banking.

For banks and fintechs, the battle for account primacy translates directly to financial performance. Primary financial relationships generate significantly higher lifetime value through increased deposits, transaction volume, and cross-selling opportunities. By enabling direct deposit switching and recurring transaction management, Atomic helps financial institutions capture more of these primary relationships while reducing customer acquisition costs.

F.N.B. Corporation's planned integration of Atomic's direct deposit and recurring transaction switching capabilities in 2025 demonstrates the practical application of this technology. The timing aligns with broader industry trends toward embedded finance and more seamless financial experiences for consumers.

This funding will likely accelerate Atomic's market penetration while enabling expansion into new product areas, potentially giving the company a more comprehensive offering to solidify its position in financial connectivity infrastructure.

GUANGZHOU, China, May 14, 2025 /PRNewswire/ -- CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company"), a leading home equity loan service provider in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at 22/F, South Finance Center, No. 6 Wuheng Road, Tianhe District, Guangzhou City, Guangdong Province 510620, People's Republic of China on May 29, 2025 at 9:00 a.m. – 11:00 a.m. Beijing Time. No proposal will be submitted for shareholder approval at the AGM. Instead, the annual general meeting will serve as an open forum for shareholders and beneficial owners of the Company's American Depositary Shares ("ADSs") to discuss Company affairs with management.

The board of directors of the Company has fixed the close of business on May 22, 2025 as the record date (the "Record Date") for determining the shareholders entitled to receive notice of the AGM or any adjournment or postponement thereof.

Holders of record of the Company's ordinary shares at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person. Beneficial owners of the Company's ADSs are also welcome to attend the AGM in person.

About CNFinance Holdings Limited

CNFinance Holdings Limited (NYSE: CNF) ("CNFinance" or the "Company") is a leading home equity loan service provider in China. CNFinance, through its operating subsidiaries in China, conducts business by connecting demands and supplies through collaborating with sales partners and trust companies under the trust lending model, and sales partners, local channel partners and commercial banks under the commercial bank partnership model. Sales partners and local channel partners are responsible for recommending micro- and small-enterprise ("MSE") owners with financing needs to the Company and the Company introduces eligible borrowers to licensed financial institutions with sufficient funding sources including trust companies and commercial banks who will then conduct their own risk assessments and make credit decisions. The Company's primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities and other major cities in China. The Company's risk mitigation mechanism is embedded in the design of its loan products, supported by an integrated online and offline process focusing on risks of both borrowers and collateral and further enhanced by effective post-loan management procedures.

FAQ

What is the size of Atomic's latest investment round in 2025?

Atomic secured a $10 million strategic investment with participation from Capital One Ventures, Citi Ventures, and F.N.B. Corporation.

How many top financial institutions does Atomic currently work with?

Atomic currently works with 8 of the top 10 financial institutions.

What will Atomic use the new funding for?

The funding will be used to further innovation and expansion across their solution areas and development of new products.

When will F.N.B. Corporation implement Atomic's direct deposit switching capabilities?

F.N.B. Corporation plans to implement Atomic's direct deposit and recurring transaction switching capabilities in 2025.

What are the main services provided by Atomic?

Atomic provides solutions for payroll connectivity, payment switching, bill management, and authentication to help financial institutions drive account primacy.