We launched Stripe Atlas in 2016 to make it easier for founders to launch a startup and earn revenue more quickly. Atlas has since shipped many features that advance this vision, among them automated founder share purchase and 83(b) election filing. 

Today we’re excited to announce one of the most significant new Atlas features yet: startups that incorporate with Atlas can now accept payments immediately after incorporation, while Atlas retrieves their Employer Identification Number (EIN) from the IRS. This removes one of the initial bottlenecks startups face on their way to acquiring their first customers.

Generate revenue faster with Atlas

While many founders receive their EIN within days, others end up waiting weeks or months because they don’t have a US Social Security number or they encounter IRS processing delays. Traditionally, payment processors require businesses to provide their EIN before onboarding them. Processors are concerned that if they begin processing payments for a new business that never receives an EIN from the IRS, they risk noncompliance with federal law. For startups working with these processors, this means they can’t generate revenue while waiting for their EIN to be issued by the IRS.

Because Atlas manages founders’ EIN filings directly with the IRS, Stripe can confidently begin processing payments for Stripe Atlas startups before their EIN is issued. Since we launched this feature to all users in January, 90% of Atlas founders have been ready to fundraise, open a bank account, and charge customers within 2 business days of submitting their Atlas application.

This accelerates startups’ speed to market, enabling them to more quickly validate product-market fit and court investors during fundraising. “We’re talking to VCs [and] the conversations are all about how fast you made your revenue and how excited people are about what you’re building,” said Alex Stroe, cofounder and CEO of Canada-based PatentWatch.ai. “Speed is excitement, and excitement gets you more investment.”

Start today with Atlas

Since its launch, Atlas has helped more than 70,000 founders start and grow their businesses. Now that Atlas users can immediately access Stripe payments upon incorporation, founders worldwide can start generating revenue faster.

Learn more about Stripe Atlas.