What is Passthrough?
Founded by former Carta Investors Services leaders Alex Laplante, Ben Doran, and Tim Flannery, Passthrough addresses the friction inherent in private market transactions. The company provides a comprehensive platform that automates subscription document workflows while simultaneously offering robust AML and KYC compliance tools. By embedding verifiable identity information directly into the subscription process, Passthrough enables fund managers to maintain rigorous compliance standards while significantly reducing the time required for investor onboarding. This focus on operational efficiency and regulatory adherence places the company at the intersection of fintech and enterprise SaaS, serving a market that is increasingly demanding digital-first solutions for complex financial operations.
How much funding has Passthrough raised?
Passthrough has raised a total of $15M across 2 funding rounds:
Angel/Seed
$5M
Series A
$10M
Angel/Seed (2022): $5M with participation from Company Ventures, Positive Sum, Great Oaks, and Okta
Series A (2023): $10M led by Positive Sum and Company Ventures
Key Investors in Passthrough
Company Ventures
A NYC-based venture capital firm focused on early-stage investments in digital health, fintech, and enterprise SaaS sectors.
Positive Sum
An investment firm that provides long-term capital to early-stage companies, emphasizing collaborative growth and founder-led innovation.
Okta
A leading independent identity provider specializing in cloud-based identity and access management, authentication infrastructure, and zero-trust security.
What's next for Passthrough?
With this latest capital injection, Passthrough is well-positioned to accelerate its product development roadmap and expand its market reach. The company's strategic focus will likely center on deepening its integration capabilities and enhancing its identity management features, potentially leveraging its existing partnerships to capture a larger share of the private equity and venture capital ecosystem. As the regulatory landscape for financial services continues to evolve, Passthrough's ability to provide a seamless, compliant, and scalable infrastructure will be paramount. The firm is expected to prioritize the scaling of its sales and engineering teams to support the growing demand for its automated subscription and compliance solutions, further cementing its role as a foundational layer in the modern financial technology stack.
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