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Passfort provides a digital platform for customer lifecycle management, automating Know Your Customer (KYC) and Anti-Money Laundering (AML) workflows. It integrates global data checks and employs a flexible policy builder to create dynamic risk profiles, establishing a comprehensive, cloud-based compliance ecosystem streamlining regulatory processes.
Henry Charles Irish and Donald Andrew Gillies co-founded Passfort in 2015. Their insight derived from the inherent inefficiencies of manual compliance, often costly and error-prone. They sought to digitize these functions, enabling organizations to meet complex regulatory demands more effectively and enhance customer onboarding experiences.
Regulated entities utilize Passfort to manage customer and third-party risk across their entire lifecycle. The company’s vision is to transform compliance and risk management through holistic data and automated workflows, supporting confident decision-making. It fosters trusted business relationships amidst an evolving regulatory environment.
Passfort has raised $16.9M across 2 funding rounds.
Key people at Passfort.
Passfort was founded in 2015 by John Moody (Founder).
Passfort has raised $16.9M in total across 2 funding rounds.
Passfort has raised $16.9M across 2 funding rounds. Most recently, it raised $16.0M Series A in September 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2021 | $16M Series A | — | Episode 1 Ventures, Hambro Perks, MMC Ventures, Doug Monro, Paul Forster, Tony Jamous | Announced |
| Nov 1, 2015 | $950K Seed | — | Episode 1 Ventures, Hambro Perks, MMC Ventures, Doug Monro, Paul Forster, Tony Jamous | Announced |
Passfort was founded in 2015 by John Moody (Founder).
Passfort has raised $16.9M in total across 2 funding rounds.
Passfort's investors include Episode 1 Ventures, Hambro Perks, MMC Ventures, Doug Monro, Paul Forster, Tony Jamous.
Key people at Passfort.
PassFort is a London-based RegTech SaaS company founded in 2015 that builds an online platform to automate customer onboarding, KYC (Know Your Customer), AML (Anti-Money Laundering), and compliance workflows.[1][3][4] It serves financial institutions and businesses needing to streamline due diligence, risk profiling, and monitoring, solving the trade-off between rapid onboarding, regulatory compliance, and fraud prevention through intelligent orchestration, API integrations, and a unified data ecosystem.[1][4] The platform centralizes customer profiles, tracks onboarding efficiency, provides real-time risk insights, and supports audit-ready records, with revenues growing ~2.5x in the year prior to its 2021 Series A funding of $16.2M led by Level Equity.[1] By 2025, PassFort has integrated into Moody's Maxsight™, enhancing its capabilities with Moody's global data and low-code policy builders for tailored workflows across jurisdictions.[4]
PassFort was founded in 2015 by CEO Donald Gillies and co-founders, emerging from Entrepreneur First, a talent accelerator that backed the company early alongside investors like OpenOcean and Episode 1.[1][2] The idea addressed the growing compliance burdens in the digital economy, where businesses faced threats from fraud and regulation while prioritizing fast customer experiences—Gillies emphasized building a "compliance policy cloud" with CRM integrations and data analytics for real-time insights.[1] Early traction came from automating document collection, verification, and storage using third-party data sources, leading to a $16.2M Series A in 2021 (including venture debt), fueled by ~2.5x revenue growth and demand for seamless KYC/AML solutions.[1] This funding supported product evolution amid rising regulatory scrutiny post-financial scandals.
PassFort rides the RegTech wave driven by escalating global AML/KYC mandates, digital banking growth, and AI-powered fraud threats, where traditional manual processes fail to scale.[1] Timing aligns with post-2021 regulatory shifts (e.g., PSD2, FATF updates) and fintech booms, enabling faster onboarding without compliance gaps—market forces like open banking and crypto scrutiny amplify demand.[1][4] Its Moody's integration positions it as a lifecycle management leader, influencing the ecosystem by standardizing data orchestration for banks, fintechs, and insurers, reducing industry-wide friction in a $20B+ RegTech market.[4]
PassFort's Moody's-backed evolution signals acceleration in AI-driven perpetual compliance, with trends like embedded finance and real-time transaction monitoring shaping its path toward dominant RegTech status.[4] Expect expansions in high-growth verticals like crypto and DeFi, leveraging data networks for predictive risk AI; its influence could redefine onboarding as a competitive edge, tying back to its core mission of frictionless, secure digital economies.[1][4]
