Footprint sells compliance software to banks, fintechs and other enterprises whose risk teams investigate customers and transactions. Its Percy product turns a firm’s written procedures into software agents that work through financial-crime alerts, collect supporting evidence and leave a decision trail for analysts. Axios Pro reports that Footprint raised a $25 million Series B, citing CEO Eli Wachs.
A team starts by describing its existing standard operating procedure. Footprint says Percy structures those instructions into auditable steps, tests the resulting agent against previously resolved cases and lets staff refine it in plain language before production. When the agent runs, it records the sources consulted, steps performed and reasoning behind each finding, with citations and timestamps; humans approve its proposed decisions.
The company positions the same system across anti-money-laundering watchlist screening, enhanced due diligence, business onboarding, transaction-monitoring investigations, adverse-media review and ongoing monitoring. Prebuilt connections to sources including LexisNexis, ComplyAdvantage and government registries are meant to pull the context for a case into one review. The product therefore competes for investigation work after an alert is generated, not only the initial screening decision.
Footprint’s earlier product centered on identity onboarding. Customers can build playbooks that collect a person’s or business’s data and documents, run verification checks, apply rules and return a status plus risk signals; the workflow can be embedded in an app or sent as a hosted link. A 2024 CEO interview described its economics as per-onboarding charges plus recurring fees for security and authentication. Percy extends that customer relationship into recurring risk work after an account is opened.
Axios’s September 16 report says the $25 million financing is a Series B and attributes the information directly to Wachs. The transaction follows a $13 million Series A led by QED Investors in 2024, when Footprint said it had raised $20 million in total. The new round is reported financing rather than a company-issued announcement.
The round arrives as Footprint stretches from verifying identities at entry into running the investigations that continue afterward. That expansion gives it more ways to serve the same risk organization, but the operating test is exacting: financial institutions must be able to show that automated reviews follow current policy, use defensible evidence and escalate decisions appropriately as procedures change. Footprint’s versioning, backtesting and human-approval design is aimed at that hurdle.