QED Leads $25M Series B for Compliance AI One Footprint
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One Footprint has raised $25 million in a Series B led by QED, with MUFG Innovation Partners, Commerce Ventures, LightBank, and others participating. MUIP is the venture arm of Mitsubishi UFJ Financial Group and invested through its No. 3 Investment Partnership.
The New York company builds AI-native infrastructure for banks and financial technology firms. It targets the manual compliance reviews that clog up KYC, KYB, AML, and sanctions screening. Eli Wach founded the fintech in 2022 and is CEO.
The timing tracks the cost curve. Financial compliance spending has passed $60 billion across the US and Canada, while global illicit financial activity has reached $4.4 trillion, pushed along by AI-generated fraud including synthetic identities and layered laundering schemes.
Two components carry the platform. Percy is an autonomous agent that works as an end-to-end risk analyst, connecting to third-party data sources and vendor databases such as LexisNexis, Experian, and ComplyAdvantage, ingesting an institution’s standard operating procedures, and handling identity verification, alert triage, evidence collection, document extraction, and first drafts of suspicious activity report narratives.
Trust Fabric is the data layer underneath, acting as organizational memory for compliance teams. It captures the reasoning behind human decisions, investigative outputs, and precedent, then maps a decision made in one domain such as enhanced due diligence across other workflows like sanctions monitoring and KYC.
The speed claims are concrete. Watchlist hit reviews that historically took up to 30 minutes get processed in under a minute, and enhanced due diligence reviews drop from hours to under 15 minutes. The system runs on an agents-propose, humans-approve model, and every finding carries audit trails, tool logs, timestamps, and verifiable citations. It also flags obfuscation tactics manual review often misses, including synthetic identity networks, multi-layered shell companies, and Cyrillic transliterations on sanctions watchlists.
The money doubles the engineering and sales teams. MUIP plans to look at integrating the compliance technology across the wider MUFG Group network.
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