StandardC Secures nearly $5MM for Software that Transforms how Businesses Manage Risk and Compliance

StandardC

Hard Yaka Invests in Rapidly Growing Company that Improves Customer Experiences and Accelerates Business Development for Financial Institutions and Businesses

StandardC is announcing it has secured $4.75MM in Series A financing to support increased demand for the company’s software platform that creates and maintains data-rich digital identities to simplify customer onboarding and maintain ongoing compliance for businesses and banks. With this news, the company is also launching the StandardC Monitoring Center to automate Know Your Customer and vendor intelligence functions for financial institutions, enterprise-scale customers, and any customers interacting with highly regulated, compliance-intensive customers or vendors.

“Our investment from innovators, like Hard Yaka, is instrumental in our mission to shift power back to individuals and small companies,” said Robert Mann, co-founder, and CEO of StandardC. “The StandardC Credential is based on self-reported business data, enhanced by both public and private data streams, that enable simplified access to a wide range of critical business services.”

“StandardC aligns with our mission of innovating digital identities, payments, and marketplaces,” said Greg Kidd, co-founder of Hard Yaka. “It’s time for industries, like banking, to rethink how they are assessing and managing risk for businesses and individuals. By delivering robust and portable digital identities, StandardC is empowering more companies to improve customer experiences and new business opportunities.”

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In just the last month, StandardC has increased businesses on its platform by 30%, including an 80% spike in transactions and a 180% boost in payments processed. To accommodate this momentum, StandardC doubled the size of its engineering and customer-facing teams, including appointing data scientist Mike Freiling, Ph.D., as a strategic advisor. Freiling brings over two decades of experience in financial analysis and data-driven decision systems for financial services.

“It’s essential for any compliance-intensive firm to hit the ground running with a strong network of qualified customers, suppliers, and service providers,” said Freiling. “StandardC is leading the pack with advanced technology solutions that make this possible – leveraged due diligence, enhanced verification of AML and other compliance requirements, and most importantly a portable and verifiable corporate identity that can be recognized and validated by prospective business partners. StandardC’s platform not only reduces the onboarding effort for everybody concerned, but it also critically shortens the time to market, which means shortening the time to revenue generation and ultimately to positive cash flow.”

By removing the complexities of customer compliance and enhancing visibility into business risk, StandardC improves customer experiences and accelerates business development opportunities for businesses and financial institutions, like Pasadena Service Federal Credit Union.

“StandardC has helped Pasadena Service Federal Credit Union to sustainably manage and grow its cannabis banking program, allowing us to offer a full suite of affordable business banking services to social equity applicants and the cannabis industry at large,” said Jamaal Byers, Director of Compliance at Pasadena Service Federal Credit Union.

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