Kompliant, a Boise, Idaho-based compliance tech startup that delivers end-to-end lifecycle compliance through a platform developed in partnership with the world’s leading payment processors and banks, raised $14 million in Seed funding.
The round was led by Level One Fund, with participation from a former president of Visa, John Partridge; Jonathan Weiner, founder of Money 20/20; Stuart Sopp, CEO of Current; and, Mike Lohner, co-founder of DOSH and current chair of Stella & Dot
The company intends to use the funds to accelerate growth by devoting additional resources to scale its platform solutions and expand the Kompliant Intelligence Platform suite of merchant onboarding, underwriting workflow management, and monitoring solutions.
With this investment, Level One Fund Partner Andrew Stewart will join Karan Wadhera of Casa Verde along with the former chairman of Fiserv Global Business Solutions, Dan Charron, on Kompliant’s Board of Directors.
Company: Kompliant, Inc.
Raised: $14.0M
Round: Seed Round
Funding Month: July 2022
Lead Investors: Level One Fund
Additional Investors: John Partridge, Jonathan Weiner, and Mike Lohner
Company Website: https://kompliant.com/
Software Category: end-to-end lifecycle compliance
About the Company: Founded by fintech veterans Brad Wiskirchen and Edward Katzin, Kompliant provides a platform that automates manual processes for merchants, underwriters, payment processors, and banks. It offers a standard set of protocols, data structures, and interfaces across application processing, application verification, underwriting management, and ongoing monitoring. The company works with payment processors and banks to solve commerce compliance compatibility across sponsor banks, acquirer processors, ISOs, VARs, ISVs, gateways, and the merchants they serve.
Source: https://www.finsmes.com/2022/08/kompliant-raises-usd14m-in-seed-funding.html