Snap Compliance, a Costa Rican platform founded by Alex Siles and Gabriela Herra Arroyo, specializes in regulatory compliance with a presence in Chile, announces a financing round for US$2 million to accelerate its expansion in Latin America.
At the same time, the company launched the FORTALEZA GRC Program, a comprehensive ecosystem that combines technology, training and documentary tools for companies subject to the regulations of the region.
«The capital will allow us to strengthen the team, accelerate the development of new technological capabilities based on artificial intelligence and consolidate the presence in already validated markets. Compliance is no longer just a legal issue and is today a critical factor for the continuity and reputation of companies,” says Alex Siles, CEO of Snap Compliance.
Increasingly strict regulatory context
In this sense, the startup operates at a time of increasing regulatory pressure in the region. In Chile, for example, fines for very serious violations of the new Personal Data Protection Law can reach $1,346 million pesos or up to 4% of a company’s annual revenue, making compliance a critical factor for operational continuity.
“This round will allow us to scale a solution that transforms Compliance from a complex obligation to a competitive advantage,” said Siles.
Furthermore, the founder highlighted that in Chile there are many organizations operating with fragmented solutions and manual spreadsheets that considerably increase the risk of non-compliance.
Integrated ecosystem with three pillars
For its part, FORTALEZA GRC is structured around three fundamental pillars: centralized technology, training academy and document library. Consequently, the innovation integrates tools for due diligence, prevention of money laundering, risk management, corporate compliance, reporting channels and monitoring of sanctions lists in a single platform, adapted to the regulations of each jurisdiction.
Likewise, the business model differs from the market by being based on the volume of data processed and not on the number of users, thus facilitating the transversal adoption of compliance in organizations.
Regarding technical capabilities, the Risk Management tool (Risk Copilot) has more than 300 thousand parameterized risks for 30 industries and 21 countries, aligned to standards such as ISO 31000 and COSO ERM.
Finally, after the closing of the round, Snap Compliance drew up a roadmap focused on accelerating its growth and moving towards a future Series A. Therefore, the strategy contemplates expansion to new validated verticals in 2025, scaling revenue through a strengthened commercial pipeline and incorporating senior talent for the Enterprise segment.
