Tampa financial services firm raises $5M through promissory notes

Tampa-based financial services firm AtlasClear Holdings Inc. has raised $5 million in financing by issuing promissory notes to investors and board members, according to a company announcement released Wednesday. 

AtlasClear Holdings announced Sept. 17 that it secured $3 million in funding. Wednesday’s announcement heralded the final $2 million needed to complete the company’s financing round. 

Sandip Patel, a corporate attorney and member of the company’s board of directors, led the final closing with a $1 million investment and will now join AtlasClear Holdings as its chief financial officer and general counsel. 

Sixth Borough Capital made an additional $450,000 investment, the release states, bringing that company’s total investment in AtlasClear Holdings to $950,000 spread across three separate transactions.

“This financing funded in material part by our own directors, underscores our confidence in the Company’s performance and trajectory,” AtlasClear Holdings Executive Chairman John Schaible says in the announcement. “Every member of our executive team and our board of directors has invested into our company, which aligns the board and the shareholders.”