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San Mateo, California, July 29, 2022 /PRNewswire/ — US-based compliance startup, Obedientrecently closed a seed round led by $14mm. Level one fund. Complant solves end-to-end compliance lifecycle management with leading technology and innovative workflows. The platform automates many of the manual processes associated with underwriting and tracking for financial institutions.
Complant’s platform automates manual processes for merchants, letter issuers, payment processors and banks.
The investment will accelerate Compliant’s growth by devoting additional resources to expand its platform solutions, and expand its Compliant Intelligence platform with merchant onboarding, workflow management and tracking solutions.
Phase One Fund, a growth-stage venture capital fund, has seen great success investing in companies that are “shaping disruptive industries.” The round also included investors from Casa Verde, who have their own experience backing game-changing technology platforms such as Dutchie, Leflink and Metric.
In this investment, level one fund partner Andrew Stewart He joins Karan Wadera Casa Verde, along with former chairman of Fiserv Global Business Solutions; Dan CharonOn Complant’s Board of Directors.
Komplant was founded by fintech veterans. Brad Wiskirchen And Edward Katzin.. Wiskirchen is a technology heavyweight built by Kount, a digital enabler technology that helps fight online transaction fraud worldwide. Equifax recently acquired Kount 640 million dollars. Co-founder and CEO, Katzin has led major payments initiatives for Apple and Visa and has grown several businesses to strong exits, including the acquisition of Revolution Cash by American Express. Katz’s professional experience focuses on designing, building and launching platform services at scale.
The company works with major payment processors and banks to address business compliance compatibility across sponsor banks, acquirer processors, ISOs, VRs, ISVs, gateways and the merchants they serve. Compliant provides a standard set of protocols, data structures, and interfaces for application processing, application authentication, underwriting management, and continuous monitoring.
“Payment organizations need to digitally transform their processes and Complant has built a platform uniquely positioned to address this need.” Andrew Stewart, Managing Partner at Level One Fund, shared. “We believe the team and technology are incredibly well positioned to succeed.”
Casa Verde Managing Partner; Karan Wadera “We first approached Brad to help us develop a compliance solution specifically for high-risk industries. As the platform evolved, it was clear that Compliant’s technology could be used across the entire payments ecosystem.”
Other early investors include the former president of Visa; John Partridge; Jonathan WeinerFounder of Money 20/20; Stuart SoppCurrent CEO; and, Mike Lohnerco-founder of DOSH and current chairman of Stella & Dot.
About the complaint
Complant brings leading edge technology and innovative workflows to eliminate the outdated business application, onboarding and adjudication processes used in the financial services industry. Compliant expands the market by turning compliance into a revenue driver and profit center. More information is available at compliant.com.
About level one fund
A tier one fund is a growth-stage capital fund that invests in multiple industries. They look for businesses that challenge established systems and offer dynamic solutions to the world’s puzzling problems. More information is available at levelonefund.com.
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Emily Baker
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