Ballerine, a Tel Aviv, Israel- and New York-based provider of an open-source risk decisioning platform, raised $5M in Seed funding.
The round was led by Team8 with participation from Y Combinator, Vera Equity and executives from Brex, Trulioo, Venmo, Melio and Coinbase.
The company intends to use the funds to expand operations and its development efforts.
Led by Noam Izhaki (CEO), Nitzan Guy (CPO), and Alon Peretz (CTO), Ballerine is an open-source platform that enables businesses offering financial products and services to verify and underwrite their customers globally or at scale. Their technology provides developers and risk managers with control over compliance infrastructure with a single integration, and can be customized to address specific needs around customer experience, risk exposures, audiences, and geographies.
Ballerine caters to any business handling financial transactions subjected to KYB, KYC, and anti-money laundering regulations, including most financial institutions, FinTechs, e-commerce, marketplaces, and other businesses.
The company’s open-source GitHub repository has attracted over 1500 developers worldwide, with dozens of fintech companies using its code in production.
FinSMEs
23/05/2023