Home Startups Compliance software startup Greenboard raised $4.5M Seed round

Compliance software startup Greenboard raised $4.5M Seed round

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Compliance software startup Greenboard raised $4.5M Seed round

Greenboard, a rising star in compliance and operations software for financial services, has announced the successful closure of a $4.5 million Seed funding round. Base10 Partners led the funding round with participation from Y Combinator, General Catalyst, Wayfinder Ventures, Liquid2 Ventures, Twenty Two Ventures, Rogue Capital, Transpose Platform, and others.

According to Crunchbase, this reached a total funding amount to $9 million.

This funding injection will propel Greenboard’s mission to develop a cutting-edge, AI-powered platform tailored to streamline financial firms’ compliance programs and eventually optimize all back-office processes.

Founded in 2023 by Dave Feldman and Ed Schembor, Greenboard has already made significant strides in the industry. Their AI-native compliance operating system facilitates tasks such as Know Your Employee (KYE) and Communications Archiving, offering a seamless transition from outdated software solutions.

Dave Feldman, Co-founder and CEO of Greenboard, emphasized the company’s commitment to modernizing compliance software within financial institutions. He noted, “Our goal is to empower financial institutions to operate their back-office teams with greater efficiency and effectiveness, utilizing advanced AI technology. This funding, coupled with our partnership with Base10, positions us to address the pressing needs of underserved users and revolutionize compliance operations.”

Customer testimonials, such as the one from Brook Powers, CEO of Fiduciary Financial Advisors, highlight the tangible benefits of Greenboard’s platform. Powers noted the software’s ease of use and administrative advantages in detecting risk and automating compliance processes.

Rexhi Dollaku, Partner at Base10 Partners, expressed confidence in Greenboard’s innovative approach and visionary leadership. Dollaku stated, “We believe in supporting founders like Dave and Ed, who are revolutionizing how financial institutions manage their back-office processes. With this investment, we are excited to witness Greenboard’s continued growth and impact in the financial services landscape.”