Shield Compliance offers a purpose-built AML/BSA compliance management software platform (the Shield Data Hub) that aggregates banks’ transaction and demographic data with public and restricted state/local information, seed-to-sale tracking, and client financials. The platform is designed to automate compliance, streamline examinations, reduce operational costs, and help banks scale cannabis-related banking programs. Shield has signed agreements to serve financial institutions in Colorado, Illinois, Massachusetts, Michigan, Ohio, and Washington and — combined with a partnership with a multi-state MRB payroll processor — now serves all states with legalized cannabis sales programs. The company says the product helps banks access low-cost deposits and gain a first-mover advantage on MRB customers. Funds from the latest round will support continued development of the Shield Data Hub and accelerate deployment at U.S. financial institutions. Shield is headquartered in Seattle, Washington, and is positioning for growth as more states expand legal cannabis programs.

Total raised

$5M

Funding rounds

1

Latest round

Series A

Latest activity

Nov 2019