Snap Compliance, a Costa Rica GRC Startup, Raises US$2M to Accelerate LatAm Growth

Snap Compliance, a Costa Rica-based compliance technology startup with operations in Chile, announced the closing of a US$2 million funding round aimed at accelerating its expansion across Latin America and strengthening its technological capabilities in a rapidly tightening regulatory environment.

Funding to Accelerate Regional Expansion and AI Capabilities

Founded by Alex Siles and Gabriela Herra Arroyo, Snap Compliance specializes in regulatory compliance solutions tailored to Latin American markets. According to the company, the newly raised capital will be used to expand its team, enhance its technology stack with artificial intelligence, and consolidate its presence in markets that have already demonstrated strong product validation.

“This capital will allow us to strengthen our team, accelerate the development of new AI-based technological capabilities, and consolidate our presence in validated markets. Compliance is no longer just a legal issue, it has become a critical factor for business continuity and corporate reputation,” said Alex Siles, CEO of Snap Compliance.

A Stricter Regulatory Context Driving Demand

Snap Compliance is scaling at a time when regulatory pressure across the region continues to intensify. In Chile, for example, fines for very serious violations of the new Personal Data Protection Law can reach US$1.48 million (CLP 1.346 billion) or up to 4% of a company’s annual revenue, making compliance a central operational risk for organizations.

“This funding round enables us to scale a solution that transforms compliance from a complex obligation into a competitive advantage,” Siles added.

The founder also highlighted that many Chilean organizations still rely on fragmented tools and manual spreadsheets, significantly increasing their exposure to compliance failures.

FORTALEZA GRC: An Integrated Compliance Ecosystem

Alongside the funding announcement, the company introduced FORTALEZA GRC, an integrated ecosystem designed to address compliance challenges through three core pillars: centralized technology, training academy, and a document management library.

The platform brings together tools for due diligence, anti–money laundering prevention, risk management, corporate compliance, whistleblowing channels, and sanctions list monitoring within a single solution adapted to each jurisdiction’s regulatory framework.

A Differentiated Business Model Built for Scale

Unlike traditional compliance software providers, Snap Compliance’s business model is based on data processing volume rather than number of users, enabling broader organizational adoption and reducing internal friction when deploying compliance practices across teams.

From a technical standpoint, its risk management solution, Risk Copilot, includes more than 300,000 pre-parameterized risks across 30 industries and 21 countries, aligned with international standards such as ISO 31000 and COSO ERM.

Roadmap Toward Growth and a Future Series A

Following the close of the round, Snap Compliance outlined a growth roadmap focused on accelerating revenue and preparing for a future Series A.

The strategy includes expansion into new validated verticals during 2025, scaling revenues through a strengthened commercial pipeline, and onboarding senior talent to serve the Enterprise segment.

With this approach, the company aims to position itself as a regional reference in governance, risk, and compliance technology across Latin America.