Brico Tech - Automating Compliance for Fintechs and Nonbanks in the US
Brico Tech streamlines compliance for fintechs by automating state-by-state licensing processes in the US, helping companies avoid costly mistakes and delays. Founded in 2023, it quickly attracted major clients and significant funding.
Compliance is killing more fintech launches than competition.
Brico Tech is the unsexy infrastructure behind the scenes: software that helps fintechs and other nonbanks get and keep state-by-state licenses in the US without drowning in spreadsheets, consultants, and missed renewal dates.
If you are a lender, money transmitter, debt collector, or crypto business, licensing is not a one-time hurdle. It is a living system of renewals, reporting, regulator questions, and rule changes across 50 states, and one mistake can stall a product for months.
Brico sells SaaS to compliance and legal teams, automating big chunks of the workflow. Think pre-built checklists, form filling, centralized evidence, and an always-updated map of what each state wants, so teams stop paying law firms to copy paste the same answers.
The signal: founded in 2023 by Snigdha Kumar and Edward Swiac, it hit roughly 25 to 30 customers early, including names like Bilt, Marqeta, and Funding Circle. Funding also moved fast, from an $8.1M seed to a $13.5M Series A led by Flourish Ventures, with Restive and Pear participating again.
Why now: more fintechs are moving from “rent a sponsor’s licenses” to owning their own licenses for control and margins. That shift turns licensing from a back-office chore into a product and growth dependency, which is exactly where sticky software wins, and why this is a FinTech of the Day pick curated by FinBox Solutions.
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If you run a fintech in the US, would you build licensing in-house, buy software like Brico Tech, or stay under a sponsor bank as long as possible?
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