Level One Fund backs FinTech platform Kompliant

By Edlyn Cardoza

Kompliant, a U.S.- based compliance startup, recently closed a $14 million seed round led by Level One Fund. Kompliant solves end-to-end compliance lifecycle management through leading-edge technology and innovative workflows. The platform automates many manual processes associated with underwriting and monitoring for financial institutions.

The investment will accelerate Kompliant’s 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.

A growth stage venture capital fund, Level One Fund has seen considerable success investing in companies that “reshape static industries.” The round also included existing investors, Casa Verde, with their track record of backing tech platforms such as Dutchie, Leaflink and Metrc. Other early investors include 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.

With this investment, Level One Fund Partner Andrew Stewart will join Karan Wadhera of Casa Verde, with Fiserv Global Business Solutions’s former chairman Dan Charron, on Kompliant’s Board of Directors.

Karan Wadhera, Casa Verde Managing Partner, explained, “We initially reached out to Brad to help incubate a compliance solution specifically for high-risk industries. As the platform evolved, it was clear that Kompliant’s technology could be leveraged across the entire payments ecosystem.”

Kompliant was founded by FinTech veterans Brad Wiskirchen and Edward Katzin. The company works with leading payment processors and banks to solve commerce compliance compatibility across sponsor banks, acquirer processors, ISOs, VARs, ISVs, gateways, and the merchants they serve. Kompliant provides a standard set of protocols, data structures, and interfaces across application processing, application verification, underwriting management, and ongoing monitoring.

“Payments organizations have to digitally transform their processes and Kompliant 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.”