<p><span data-contrast="auto">Compliance company Satschel has raised a $5.2 million seed round led by early-stage venture firm Brand Foundry Ventures, according to a </span><span data-contrast="auto">spokesperson for the startup.</span></p> <p><span data-contrast="auto">Leveraging web3 technologies, Satschel helps financial services companies become compliant with regulations through its automated Compliance Fabric technology, which enables investors and customers to be onboarded quickly while still meeting regulatory standards, </span><a href="https://www.prnewswire.com/news-releases/assure-and-satschel-announce-partnership-to-modernize-todays-financial-systems-infrastructure-301622680.html"><span data-contrast="none">per a release on Tuesday</span></a>.<span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“Compliance burdens and costs have ballooned since the financial crisis, and the development of a crypto ecosystem has accelerated the imperative to improve speed and accuracy in KYC [know your customer] and AML [anti-money laundering],” said Andrew Mitchell, founder of Brand Foundry Ventures, in a statement to The Block.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">The seed raise comes just days after Satschel’s announcement of a partnership with Assure, a fintech company for Special Purpose Vehicles (SPVs). Assure’s customers will be the first to leverage Satschel’s Compliance Fabric technology.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“We are excited about Satschel and look forward to seeing their innovative service deliver immediate value by eliminating pain points for Assure SPV customers and their investors,” Mitchell said. “The partnership represents a major step forward in the accessibility and quality of private market transactions.”</span></p> <p><span data-contrast="auto">Assure enables clients to structure and close deals faster, according to the Tuesday release. The company has structured and closed more 8,500 deals with over $9 billion in assets under administration. Clients include Republic, Forge and Tech Coast Angels, the release said.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p><span data-contrast="auto">“With Assure, we are demonstrating web3's potential to enhance value and experience, even for off-chain businesses, and bringing those benefits to what has traditionally been a very opaque market,” Eric Choi, co-founder and president of Satschel, said in the statement.</span><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p> <p>The average deal size for projects at the seed level has declined for four straight months through July, before rebounding in August, according to <a href="https://www.theblockresearch.com/august-blockchain-funding-recap-169221">funding data</a> from The Block Research. </p> <p><img class="alignleft wp-image-170711 size-full" src="https://www.tbstat.com/wp/uploads/2022/09/Screenshot-2022-09-16-at-13.43.53.png" alt="Blockchain seed and pre-Series A deal size" width="2280" height="962" /></p> <p><span data-ccp-props="{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>