Castle Creek Launchpad Invests in RiskScout, Closing Seed Round
Summary
AUSTIN, TX July 20, 2023 - , a leading regulatory technology company specializing in compliance automation, announced today that it has secured its final investment in its seed round from Castle Creek Capital and Launchpad Capitals joint fund backed by community banks.Castle Creeks decades of experience in operating and investing in community banks combined with Launchpads knowledge of fintech is a powerful endorsement for RiskScout and the value it creates for smaller financial institutions across the U.S. The teams plan to leverage their networks to amplify RiskScouts mission of promoting compliance efficiencies through state-of-the-art, easy-to-use technology.Were excited to have so much support from investors backed by trusted and progressive financial institutions," said CEO and Co-Founder Justin Fischer. They understand our goal and mission and their backing will help us reach more banks and credit unions looking to accelerate business through modern compliance automation. It can improve operational efficiency today, open up new lines of business over the near-term, and adapt around systemic shifts in the marketplace that will arise over the next five to ten years, said Ryan Gilbert, Founder and General Partner at Launchpad Capital.This investment marks the close of the current round, where Castle Creek Launchpad joined Alloy Labs, ATX Venture Partners, and the Bankers Helping Bankers Fund to support RiskScout. We look forward to delivering on a packed roadmap of new features and value to provide alternatives in a market filled with legacy technology.After decades of developing enterprise software for financial institutions, pioneering cloud banking and infrastructure, and writing regulatory compliance as part of the FFIEC, our team of experts came together to solve a big problem for community financial service compliance.Financial institutions need to be able to grow their reach and find efficiencies in the back office.