Complianta Boise, Idaho-based compliance tech startup raised $14 million in seed funding.
The round was led by Level One Fund with participation from former Visa Chairman John Partridge; Jonathan Weiner, founder of Money 20/20; Stuart Sopp, CEO of Current; and Mike Lohner, co-founder of DOSH and current president of Stella & Dot. With this investment, Level One Fund partner Andrew Stewart will join Casa Verde’s Karan Wadhera along with former Fiserv Global Business Solutions President Dan Charron on Kompliant’s board of directors.
The company intends to use the funds to accelerate growth by devoting additional resources to scaling its platform solutions and expanding the Kompliant Intelligence Platform suite of integration solutions merchants, management of subscription flows and monitoring.
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 for request processing, request verification, subscription management, and ongoing monitoring.
The company works with payment processors and banks to resolve trade compliance compatibility between sponsoring banks, acquiring processors, ISOs, VARs, ISVs, gateways and the merchants they serve.