Level One Fund Leads $14M Series Seed Financing of Kompliant
Gunderson Dettmer represented client Level One Fund as it led the $14 million Series Seed financing of Kompliant, an AI-driven onboarding and risk scoring platform. Kompliant allows customers to build credit risk programs, enables sales and finance teams to design data capture, workflows and make credit decisions, and brings solutions to oversight teams for risk and compliance management. The new capital will enable the company to expand their customer base and team.
In the announcement of the transaction, Managing Partner at Level One Fund Andrew Stewart said "Payments organizations have to digitally transform their processes and Kompliant has built a platform uniquely positioned to address this need. We believe the team and technology are incredibly well-positioned to succeed."
Co-Founder and CEO of Kompliant Edward Katzin also told TechCrunch that “Using the configurable Kompliant platform means a financial institution has more time to focus on driving revenue growth and portfolio expansion by making the onboarding, decisioning, activation, and monitoring of their customers frictionless. The technology helps companies increase profitability by improving the efficiency of customer acquisition, underwriting decisioning and account activation. With enhanced verification, businesses can also improve customer conversion, decisioning cycle-time, business monitoring, and response to fraudulent activity.”
The Gunderson Dettmer deal team was led by Jerome Ku and included Bella Thornton-Clark and Sarah Waste.