NY-BALLERINE
23.5.2023 14:31:34 CEST | Business Wire | Press release
Ballerine, an open-source risk decisioning platform, has raised $5 Million in a seed funding round led by Team8. The company provides an open-source platform that integrates global data sources, along with the necessary tools to automate and enhance decision-making processes for tasks such as onboarding (KYB), underwriting, and transaction monitoring. 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. Ballerine is experiencing rapid growth and traction, its open-source GitHub repository has attracted over 1500 developers worldwide, with dozens of fintech companies using its code in production.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230523005284/en/
In order of appearance from left to right is: Nitzan Guy (Co-founder and CPO), Noam Izhaki (Co-founder and CEO), Alon Peretz (Co-founder and CTO). (Photo: Business Wire)
The company was founded by an expert team of developers from the digital banking space with extensive experience building in-house risk infrastructure, and a first-hand understanding of the many challenges associated with developing and maintaining risk systems internally. The founding team, Noam Izhaki (CEO), Nitzan Guy (CPO), and Alon Peretz (CTO), launched Ballerine to solve the pain points they encountered using a developer-first, open-source and modular approach.
Traditionally, verifying, underwriting and monitoring businesses is a complex task. It involves extensive data pulling from multiple sources, documentation, and policy updates due to changes in regulations, threats, and best practices. This complexity increases exponentially as companies expand to new geographies or add new products and business lines. Ballerine simplifies this task, enabling developers to fully customize their risk assessment workflow through a marketplace of point solutions. Data sources can be accessed via a single commercial agreement with Ballerine or through commercialization directly with data vendors. These sources include but are not limited to: company registries, sanctions, websites/social, credit agencies, adverse media, PEP databases, UBO registries and Open-Banking.
“The financial industry desperately needs infrastructure to support its ongoing digital transformation, infrastructure that empowers institutions to automatically access and analyze data throughout the customer journey," said Noam Izhaki, the CEO and Co-Founder of Ballerine, “Ballerine offers exactly that - it leverages dispersed data, simplifies privacy management, and empowers companies to continually enhance their risk-decisioning processes while maintaining control and flexibility.”
Ballerine's open-source core gives developers and risk managers control over the infrastructure with a single integration and allows customization to address specific needs around customer experience, risk exposures, audiences, and geographies. Ballerine’s open-source platform is the next-gen infrastructure for risk and identity decisioning as it offers significantly more flexibility for global financial services and large institutions, catering to many more use cases and leaving more room for customers to extend and customize the platform.
“Ballerine has a real opportunity to transform the way any business handling financial transactions manages risk.” said Hadar Siterman Norris, Partner at Team8. “This funding will help Ballerine create the first open-source and developer-centric compliance infrastructure, which is sure to propel Ballerine to even greater heights. We are excited to be part of their journey.”
The funding round was led by Team8 with participation from Y Combinator, Vera Equity and executives from Brex, Trulioo, Venmo, Melio and Coinbase. Ballerine and Team8 will be attending Money 20/20 in Amsterdam, June 6-8, 2023. Noam Izhaki, Ballerine’s CEO and Co-Founder, will be speaking at the conference during a presentation, “Open-Source is Coming: Watch Out Financial Services.” To learn more about Ballerine, visit: www.ballerine.com.
About Ballerine
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 maximum control over compliance infrastructure with a single integration, and can be easily customized to address specific needs around customer experience, risk exposures, audiences, and geographies. Ballerine caters to any business handling financial transactions that are subject to KYB/KYC and money laundering regulations. This includes nearly all financial institutions and fintechs, as well as many eCommerce, marketplaces and SaaS companies. For more information, visit https://www.ballerine.com/
About Team8
Team8 is a venture group that builds and invests in the most innovative technologies in the fields of fintech, cyber, data, and digital health. We leverage deep domain expertise, cutting-edge technology, and first-hand company-building experience to partner with entrepreneurs in founding globally-successful companies, while also investing in early-stage companies that are active in the Group's fields of interest. Visit www.team8.vc to learn more.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230523005284/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Jefferies Financial Group Inc. Announces Pricing of €850,000,0004.500% Senior Notes Due 20338.7.2026 22:16:00 CEST | Press release
Jefferies Financial Group Inc. (NYSE: JEF) (“JFG”, “we” or “our”) today announced the pricing of its public offering of €850,000,000 aggregate principal amount of 4.500% Senior Notes due 2033 (the “Notes”) with an effective yield of 4.544%, maturing, July 15, 2033. The offering is expected to settle on July 15, 2026, subject to the satisfaction of customary closing conditions. Application is expected to be made for the Notes to be admitted to the Official List of the Irish Stock Exchange plc, trading as Euronext Dublin, and admitted to trading on the Global Exchange Market of Euronext Dublin; any listing is subject to approval by Euronext Dublin. JFG intends to use the net proceeds of the offering for general corporate purposes. Jefferies International Limited served as sole global co-ordinator and joint active book-runner for the offering of the Notes, Banco Santander, S.A., Citigroup Global Markets Limited, Natixis, SMBC Bank International plc and Société Générale served as joint act
KiddeFenwal Launches New Website and Information Hub8.7.2026 18:00:00 CEST | Press release
Enhanced digital platform reflects KiddeFenwal’s legacy, stature and growth trajectory in the fire suppression and safety controls industry KiddeFenwal, the global leader in the fire suppression and safety controls industry, today unveiled a revitalized website, designed to serve as a comprehensive information hub for fire industry practitioners and customers alike. The modernized platform includes features created specifically with the company’s global partners, OEMs and distributors in mind, including: Accelerated asset navigation, pointing users to critical safety documentation, design parameters and product specifications; Seamless solution mapping, helping users quickly locate fire suppression configurations by industry, from data centers to BESS applications to commercial kitchens; and Enhanced resource access, including streamlined pathways to connect with the company’s elite distributor network across 120 countries. It also provides information about the company’s three brands,
Dryad Networks Reaches XPRIZE Wildfire Finals Milestone, Demonstrating Autonomous Detection and Suppression of Wildfires in Alaska8.7.2026 17:00:00 CEST | Press release
Dryad Networks, the leader in ultra-early wildfire detection technology, today announced a major achievement in the finals of the Autonomous Wildfire Response track of XPRIZE Wildfire, a four-year, $11 million global competition accelerating new solutions to end destructive wildfires. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707802818/en/ The Silvaguard Suppression Drone can deliver a 100 liter liquid suppressant to autonomously suppress small wildfires detected by Silvanet Competing against just two other finalists selected from an original field of nearly 300 teams worldwide, Dryad successfully demonstrated the integrated capabilities of its Silvanet wildfire detection network and Silvaguard autonomous firefighting drone system during final testing in remote Alaska. The XPRIZE Wildfire finals challenged teams to autonomously detect and suppress a wildfire without any human intervention across a vast 1,000 square k
Rigaku Opens "Rigaku Solutions Center Osaka" to Strengthen Global Semiconductor Metrology Service Capabilities8.7.2026 17:00:00 CEST | Press release
- Centralizing and Expanding Practical Training to Strengthen Global Service Capabilities - Rigaku Corporation, a global solution partner in X-ray analytical systems and a group company of Rigaku Holdings Corporation (headquarters: Akishima, Tokyo; CEO: Jun Kawakami; “Rigaku”), has opened the Rigaku Solutions Center Osaka (RSC-Osaka) at its Osaka Plant. The new facility centralizes and expands practical training for field service engineers supporting semiconductor metrology systems, strengthening Rigaku's global service capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708402770/en/ Photo: Hands-on training using the TXRF-V310 at RSC-Osaka As semiconductor manufacturing processes continue to advance toward finer geometries, higher layer counts, and more complex three-dimensional structures, semiconductor metrology systems require ever greater precision and operational stability. X-ray analytical technologies pl
Cardiac Dimensions® Announces Three Major Publications Demonstrating Long-Term Durability, Real-World Performance, and Broad Patient Benefit of the Carillon Mitral Contour System®8.7.2026 16:05:00 CEST | Press release
New data highlight multi-center 5-year durability, 10-year survival, and the largest single-center experience across both HFrEF and HFpEF patients with functional mitral regurgitation Cardiac Dimensions, a leader in transcatheter therapies for heart failure, today announced the publication of three major manuscripts that together form the most comprehensive evidence base ever assembled for transcatheter indirect mitral annuloplasty. These publications span a five-year multi-center commercial registry, the largest single-center experience across both preserved and reduced ejection fraction, and long-term survival results through ten years. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260707656796/en/ Carillon Mitral Contour System® The Carillon Mitral Contour System is the only commercially available indirect mitral annuloplasty device, designed to treat a broad and expanding population of patients living with functional mi
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom