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
Vedanta FY26 Profit Soars by 22% to $2.8 bn; Enters Demerger Phase11.5.2026 02:30:00 CEST | Press release
India-based Vedanta Limited (BSE: 500295 & NSE: VEDL), a global leader in metals, oil & gas, critical minerals, power and technology, announced its results for the fourth quarter and full year ended 31 March 2026. It has delivered its best-ever financial performance, driven by structurally strong businesses and disciplined execution. For the full year, Vedanta’s Profit stood at an all-time high of $2.8 bn, reflecting a 22% YoY increase and a profit of $1 bn in Q4 FY26, up nearly 90% YoY. Vedanta reported its highest-ever annual revenue of about $20 bn, up 15% YoY, with Q4 revenue at $5.6 bn, an increase of nearly 30% YoY. The Company maintained strong cost leadership, contributing to record EBITDA of $6.3 bn for FY26, up by about 30% YoY, with margins expanding to around 40%. Q4 EBITDA stood at $2.0 bn, up by nearly 60% YoY, with a margin of approximately 44%. The balance sheet strengthened further, with Net Debt/EBITDA improving to 0.95x, supported by strong cash generation. Underscor
Andersen Global udvider sin afrikanske platform med tilføjelsen af medlemsfirma i Namibia9.5.2026 02:35:00 CEST | Pressemeddelelse
Andersen Global udbygger sin tilstedeværelse i Afrika med tilføjelsen af Andersen in Namibia, da Windhoek Advisory & Taxation tager Andersen-brandet til sig og styrker sine forudsætninger for at betjene virksomheder med aktiviteter i et af det sydlige Afrikas dynamiske vækstmarkeder. Andersen in Namibia har været et samarbejdsfirma siden 2021 og er en lokalt ejet revisions- og konsulentvirksomhed, der leverer ydelser inden for regnskab, skat og forretningsrådgivning, tilpasset de unikke behov i Namibias erhvervsklima. Med ekspertise inden for minedrift, landbrug, logistik, turisme og finansielle tjenesteydelser – sektorer, der er afgørende for Namibias økonomi – bistår firmaet både indenlandske virksomheder og internationale selskaber, der etablerer sig i regionen. Gennem cloudbaseret teknologi og datadrevet indsigt leverer Andersen i Namibia effektive og skalerbare løsninger, der gør det muligt for virksomheder at optimere deres drift, håndtere skatteforpligtelser på tværs af jurisdik
Andersen Consulting styrker sine kompetencer inden for organisatorisk transformation med Afiniti8.5.2026 20:45:00 CEST | Pressemeddelelse
Andersen Consulting annoncerer en samarbejdsaftale med Afiniti, et globalt konsulentfirma inden for forretningstransformation med hovedkontor i Storbritannien, der hjælper organisationer med at levere og opretholde komplekse forandringsprojekter. Afiniti blev stiftet i 2003 og er et globalt konsulenthus inden for forretningsforandring med base i Storbritannien og USA. De støtter klienter gennem komplekse transformationer på tværs af mennesker, processer, systemer og data, og de skaber mærkbare forandringer gennem kreative konsulentydelser. Virksomheden betjener primært stærkt regulerede, sikkerhedsdrevne og aktivtunge organisationer med store, geografisk spredte arbejdsstyrker inden for sektorer som energi, forsyning, biovidenskab, transport og byggeri. Afiniti samarbejder med velkendte brands om at levere ekspertise fra start til slut på tværs af organisatoriske, digitale og ai-baserede transformationer samt ændringer i kultur og driftsmodeller. Dette gælder især komplekse scenarier s
Verdantis Launches MRO360 “The World's First AI-Native Spare Parts Intelligence Platform”8.5.2026 15:40:00 CEST | Press release
MRO360 is the first milestone in Verdantis's journey to deliver the industry's first fully AI-native Enterprise Asset Management solution. Verdantis today announced the global launch of MRO360, a purpose-built AI platform that transforms how asset-intensive organizations manage their MRO spare parts inventory. Designed for manufacturers, oil and gas operators, mining companies, utilities, and other industrial enterprises, MRO360 deploys nine interconnected AI agents that continuously forecast demand, score parts criticality, manage obsolescence risk, calculate dynamic reorder points, helps intercompany plant transfer thereby realizing the exact dollar value of every optimization opportunity across a spare parts catalog in real time. Unlike traditional EAM and CMMS platforms built on static rules, MRO360's agents adapt continuously as demand patterns, supplier performance, and equipment health evolve. For the first time, a maintenance planner can see which work orders are at supply risk
Cyble Positioned as a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies8.5.2026 15:22:00 CEST | Press release
Cyble today announced it has been recognized as a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies. The company believes this recognition underscores Cyble’s mission to make threat intelligence truly operational—delivering AI-native capabilities that enable enterprises, government agencies, and MSSPs to shift from reactive security to proactive, intelligence-driven defense. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260508164528/en/ Cyble Named a Challenger in the 2026 Gartner® Magic Quadrant™ for Cyberthreat Intelligence Technologies "Security teams are under constant pressure to respond faster with greater accuracy," said Beenu Arora, Co-Founder and CEO, Cyble. "We believe this recognition highlights our focus on delivering intelligence that drives real outcomes—cutting through noise, accelerating response, and enabling confident decision-making at scale." Intelligence That Acts
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