Y Combinator Backed Ballerine Secures $5 million for Fintech Risk Orchestration

Ballerine founders: Noam Izhaki (CEO), Nitzan Guy (CPO), and Alon Peretz (CTO). Credits - Ballerine.

Fintech startup Ballerine has secured $5 million in Seed funding led by Team8, along with participation from Y Combinator, Vera Equity, and key executives from Brex, Trulioo, Venmo, Melio, and Coinbase.

Ballerine’s open-source platform enables businesses to efficiently verify and underwrite their customers, either globally or on a larger scale. The platform pulls data from multiple global sources, providing the necessary tools for automating and enhancing decision-making processes. This includes areas like onboarding (KYB), underwriting, and transaction monitoring.

The platform’s open-source GitHub repository has quickly gained traction, attracting over 1500 developers worldwide, with several fintech firms already integrating its code into their production processes. The company was founded last year by Noam Izhaki (CEO), Nitzan Guy (CPO), and Alon Peretz (CTO), to resolve the challenges they had personally faced in developing and maintaining risk systems internally.

Ballerine allows developers to fully customize their risk assessment workflows using a marketplace of point solutions. Access to data sources can be secured through a single commercial agreement with Ballerine, or directly with data vendors. These sources span company registries, sanctions, websites/social, credit agencies, adverse media, PEP databases, UBO registries, and Open-Banking.

The startup’s open-source core offers developers and risk managers control over their infrastructure through a single integration. The funding will help 8-person Ballerine develop the first open-source and developer-centric compliance infrastructure. Ballerine participated in Y Combinator’s summer batch of 2022.

Mentioned in the article

Continue Reading

StartupHub.ai, the hub of the AI startup ecosystem.

Add or Claim Your Profile

Submit the form below to add or claim an existing profile. Within 24 hours, we'll review your request and connect you to your existing profile for full editing.

Pro Lite Subscription Required

Unlock all search results

With a Pro Lite subscription, you can enjoy unlimited profile viewing. Power your innovation efforts, uninterrupted.


cancel anytime

Pro Lite includes: