Passthrough Secures $10 Million in Series A Financing
Summary
Today, were excited to announce Passthroughs $10mm Series A led by Sam Cates and Patrick OShaughnessy from Positive Sum and a number of returning and new investors. But they didnt solve the core problems of investor onboarding: unstructured information across non-standardized forms.Standard forms exist where some group can tell everyone what to do. Julius joins us from Wealthfront and has decades of experience leading legal and compliance at companies like Carta, JPMorgan Chase, MUFG, and the SEC. Were excited to work with Julius again and for him to work with our current and future customers.Since we raised our seed round, our team of 26 accomplished the following: Launched an API for other fintechs, partners, and clients Secured our SOC 2, Type I and II with no exceptions Kept onboarding to 7 business days while maintaining a 94% referenceability rate Shrank the typical investors time-to-sign to 20 minutes while requiring zero revisions 80% of the time Set a new world-record for fastest sub doc completion at under 2 minutesAlternative investments are no longer a niche asset class. Modern infrastructure like Passthrough must exist to make this a reality for funds, asset managers, and their investors.We have so much more to share with you this year, including massive improvements to the API experience, partnerships with premier service and software providers, and more.