Brico

We're a San Francisco startup solving financial licensing, and we're looking for engineers who want to make an impact from day one.

Brico just raised our Series A funding, pre-empted by Flourish Ventures—and we did it having barely touched our previous $8.1M raise. That's not just efficient capital deployment: it's validation that we're solving a problem teams desperately need solved. To our customers: thank you for trusting us with your licensing when we were just getting started. Your feedback shaped everything we built. To our team: thank you for believing that licensing could be joyful. You proved the skeptics wrong. To our investors at Flourish, Restive Ventures, and Pear VC: thank you for backing our vision that licensing shouldn't lock people out: it should lift them up. We're doubling our team, expanding coverage, and building the licensing platform every regulated company needs. The work continues. Let's go! 🚀 cc Snigdha Kumar

Something I've been working on for a while got resolved on Friday, and if you're preparing a #DFAL application, it directly affects you. California Department of Financial Protection and Innovation has removed the surety bond as a prerequisite for submitting a substantially complete application before July 1. Here's what was happening: DFAL requires applicants to obtain a surety bond. DFPI set its tangible net worth threshold at $100K — workable for most fintechs and digital asset companies in the market. But insurers have to actually write the bond and price the risk. For this new license type and bond, those terms came in significantly higher. We were seeing insurers require a net worth of $10M or more, sometimes with multi-year positive earnings requirements on top. That's not a minor gap from DFPI's $100K threshold. It was effectively blocking qualified applicants out of the bonding market. Earlier in this month of June, roughly 75% of companies seeking the DFAL bond were expected to be turned away. With less than a month to the July 1 deadline, that was a serious problem for a large portion of the industry. I've been in ongoing conversations with DFPI, working through what a viable path forward might look like. On Friday evening, DFPI informed me they would remove the bond as a prerequisite so that companies meeting all other DFAL requirements aren't blocked from filing. Regulators and industry are easy to cast as opponents, but realistically, both sides want the same thing: efficient and durable markets, which don't exist without trust. Protection isn't the price of innovation, but rather the precondition for it. The Department’s ability to responsibly respond to market conditions and the standards they have set in this state will shape digital asset regulation worldwide. I am extremely grateful for DFPI’s open dialogue with industry, and their ability to hold that balance while representing the fourth-largest economy in the world. A few things still worth keeping in mind: → The July 1 deadline has NOT moved. This doesn't extend your timeline: it removes one obstacle in it. → The bond hasn't been eliminated — it's been deferred. Insurer thresholds may change over time with continued dialogue. Full breakdown on the Brico blog. Link in comments. #DFAL #DFPI #CryptoLicensing #CryptoCompliance #Fintech

License maintenance shouldn't take 50% of your compliance team's time. For one Brico customer, it now takes 3 hours a quarter. The compliance teams that sail through Q4 are the ones who stayed on top of periodic reporting, change notices, and state requirement updates all year. Brico makes that the easy part. Brico automates periodic reporting, renewal deadlines, and change notices across all 50 states. Software paied with expert support from experienced compliance pros when state requirements change. If you're starting to think about renewals, now's the right time to look at what the maintenance work actually costs you. Because renewal season is a deadline, but license maintenance is a daily reality. For MTLs, lending, mortgage, crypto, and more.

Renewal season is a deadline. License maintenance is a daily reality. The compliance teams that sail through Q4 are the ones who stayed on top of periodic reporting, change notices, and state requirement updates all year. Brico makes that the easy part. Automated reporting. Built-in deadlines. Expert support when state requirements change. One place for your whole team. If you're starting to think about renewals, now's the right time to look at what the maintenance work actually costs you.

When compliance gets complex, expertise matters more than ever. Brico combines cutting-edge software with seasoned compliance professionals who stay ahead of changing state requirements. You don’t have to worry about surprises or missed deadlines during renewal season: or any other day in the year!