AI-driven RegTech firm Brico, which automates state and federal licensing for financial institutions, has raised $13.5m in a Series A round.
The funding was led by Flourish Ventures, with participation from Restive Ventures and Pear VC. The raise comes just a year after Brico’s seed round, reflecting investor confidence in its rapid 600% growth and AI-first approach.
Founded in 2023 by Snigdha Kumar and Edward Swiac, the San Francisco-based company helps payments, digital asset, lending, and mortgage firms complete licensing up to five times faster and at a fraction of the cost.
Brico plans to use the new funds to expand licence coverage, develop predictive compliance tools, and double its workforce over the next year.
Brico CEO and co-founder Snigdha Kumar said, “Financial licensing is the invisible backbone of innovation in FinTech, and until now, it has been the industry’s biggest bottleneck.
“Companies are shifting from third-party models to owning their own licenses for greater control, scalability, and trust. We’re building the modern platform that makes license ownership fast, affordable, and joyful, empowering Payment, Crypto, Lending, and Mortgage providers to launch and expand with confidence. The fact that our existing investors doubled down and we closed this round so quickly after our seed demonstrates the massive market opportunity we’re capturing.”
Flourish Ventures founding partner Kabir Kumar said, “Every company that touches money faces the same painful licensing maze, and Brico finally cracked the code.
“Brico is establishing the new standard for financial licensing, transforming a major operational burden into a source of speed, trust, and scalability. Their growth trajectory has been exceptional. Hence, we doubled down on Brico.”
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