Kobalt Labs

Compliance software for banks and fintechs

Kobalt Labs builds AI software that runs the compliance function of financial institutions. Its users are US banks, fintechs and credit unions, which rely on it to vet third-party vendors, check marketing material before it goes out, and keep up with regulatory change. Much of that work otherwise still lives in spreadsheets or aging systems and is done by hand. Customers include Chime, Upstart and Affirm, and its revenue has multiplied more than five times over in recent years.