Relay raised $36 million to expand operations using artificial intelligence

Baselayer has raised $35 million in a Series A funding round to expand its identity infrastructure for artificial intelligence agents. The round was led by M13, with participation from Torch Capital, Picus Ventures, Afore Capital, and Matt Thompson of Socure. In addition to securing funding, the New York-based company has launched its Agentic Identity Suite.

The platform's primary goal is to help financial institutions detect autonomous agents before they can complete transactions. Baselayer was founded in 2023 by Jonathan Avad and Timothy Hyde. Jonathan Avad serves as CEO, and Timothy Hyde is the CTO.

Previously, the company focused on business identity and risk infrastructure for financial institutions. Currently, the platform supports over 2,300 financial institutions and payment companies. Baselayer claims that its technology has helped clients prevent over a billion dollars in fraud losses.

As AI agent systems increasingly perform tasks previously assigned to humans—such as opening accounts, moving funds, making purchases, and conducting business operations—a new trust challenge arises for financial infrastructure. Traditional identity systems were built with people and companies in mind but are not designed to verify autonomous software acting on behalf of a third party.

The company aims to become the trust layer for institutions dealing with autonomous agents, as they need to know which specific agent is operating and who authorized its actions. Furthermore, they need to understand the agent's scope of authority. Baselayer states that static fraud controls can block legitimate users while ignoring sophisticated attacks. Its Agentic Identity Suite is designed to close this gap and assess the possibility of a secure transaction by an agent.

The system is intended to provide cryptographic verification around agents and the organizations they represent. Baselayer is extending its existing business identity network into the realm of the agent economy. The company already provides identity verification services and risk infrastructure for financial and payment enterprises. Its network includes over 2,300 institutions across the United States. Baselayer also collaborates with agent developers, card networks, and payment companies. Among its partners and clients are FIS, Prove, Socure, Exa, and Parallel Web Systems.

The company is involved in shaping new standards for agent authentication and identification, including the FIDO Alliance Authentication Working Group and the x402 Identification Working Group. Baselayer works alongside companies such as Cloudflare, Google, Visa, and Mastercard.

According to the company, common standards will become critically important as agent commerce expands. This funding comes amid large payment companies developing infrastructure for AI-driven commerce. Stripe reported that about 70% of API requests now come from AI agents. Visa, Mastercard, and American Express have also implemented agent commerce protocols, and Shopify has provided agent sales channels to approximately one million merchants. These developments point to the broader application of autonomous systems in commercial operations.

McKinsey predicts that agent commerce could redirect between $3 trillion and $5 trillion in retail spending by 2030. Baselayer believes that such growth will require more robust identity and fraud prevention infrastructure. The company plans to evolve around emerging standards while expanding its agent products.

Karl Alomar, Managing Partner at M13, noted that Baselayer already possesses valuable operational infrastructure, citing its network of financial institutions and existing risk data. Baselayer stated that the new funding will be directed toward expansion into this nascent market.

FintechOS has successfully raised $28 million through a combination of equity and debt financing. The majority of the equity funding was provided by existing shareholders. Among the group's investors are Bek Ventures, IFC, Cipio Partners, and Molten Ventures. Additional senior debt financing was provided by Santander CIB.

This fundraising occurred following a strong first half of 2026. FintechOS achieved profitability, and revenue from recurring payments increased by 40% compared to the previous year. The company's operating EBITDA also grew by over 102% year-over-year. The company forecasts reaching a record number of new clients in 2026.

It is expected that more than 20 financial institutions will implement the FintechOS 8 platform this year. This platform offers artificial intelligence-based tools for managing financial products. FintechOS serves banks, insurance companies, and other organizations providing financial services. The company's technology allows institutions to customize and launch financial products without replacing core systems.

The United States is the fastest-growing market for FintechOS. Revenue in the US increased by 130% year-over-year in the last reporting period. The company now aims for growth of over 200% in the US over the next twelve months. In connection with this, the company is appointing directors to its board of directors in the US and a new chairman.

These appointments are aimed at supporting regional expansion and strategic partnerships. FintechOS is strengthening relationships with major banking system providers. The partnership with Finxact provides access to additional opportunities in the US banking sector, as Finxact operates within Fiserv.

FintechOS also collaborates with Finastra Phoenix. These partnerships may connect the company with a larger number of banks and credit unions. Current clients in the US include ESL Federal Credit Union and Vibrant Credit Union. The platform is also used by Hanscom Federal Credit Union and Farmers Bank of Willards.

FintechOS 8 utilizes a native AI approach for financial product operations. The Dex AI Copilot allows non-technical users to configure products and offerings. The platform integrates product management, data, and AI execution with compliance. It is designed to operate on top of existing financial infrastructures.

Furthermore, the company is implementing a pre-deployment delivery practice. Each client-facing team includes a technical consultant and an engineer. These teams work directly with client product groups, configuring and launching products through a more agile implementation process. FintechOS expects this model to reduce deployment times, lower implementation costs, and increase operational efficiency.

The company has expanded its customer base in Europe parallel to its growth in the US. European clients include BRD Groupe Société Générale, Admiral, CEC Bank, and Bankinter. The latest funding will strengthen FintechOS's expansion base in the US and deepen the company's client portfolio in Europe. The additional capital will also support the delivery organization behind FintechOS 8, including the expansion of engineering and client teams. Other European clients include Howden and Groupama.

The financing structure combines equity with senior debt. This approach provides additional capital without complete reliance on a new equity round. FintechOS founder and CEO, Theo Blidarus, stated that growth and profitability can develop simultaneously. The company continues to work with banks and insurance companies in both regions.

The company's financial performance supports its next phase of expansion. CFO Kirill Desuza noted that the company spent years improving costs and margins. This preparation helped FintechOS return to growth on a stronger operational foundation. The company will present the next phase of growth at the FintechOS Elevate '26 event, held in London on October 14, 2026. FintechOS enters a new phase with reinforced momentum in the US and a profitable operating model.

Corridor successfully raised $25 million in a seed funding round to scale its artificial intelligence-based brokerage service for medical benefits. The investment round was led by Bain Capital Ventures, with participation from BoxGroup. Investors include executives from technology companies such as OpenAI, Scale AI, and Ramp.

Corridor serves businesses with between one and 500 employees. The company asserts that small employers often receive less support from traditional brokers. The brokerage firm insists that small accounts require a similar volume of work despite lower commissions.

The Corridor platform utilizes AI-powered agents to perform administrative tasks under the supervision of human consultants. These agents are capable of vetting provider networks and organizing insurance information. Furthermore, they can schedule appointments and direct updated coverage details to physicians.

Corridor enables clients to receive quotes across the entire insurance market, allowing insurers to compete for business based on available plans and pricing. The company combines licensed consultants with AI-driven administrative support. The secured funding will be used to expand the company ahead of the next benefits enrollment cycle.

The process begins with employers providing information about their teams, budgets, and healthcare needs. Agents then structure the company and plan data, gather insurance quotes, and compare available options from various insurers. The system generates proposals and identifies potential risks in different plans.

Subsequently, human consultants present suitable options to employers. Employees can select their desired coverage during the enrollment process. Corridor agents continue to support clients after plan selection, including verifying if physicians remain within the insurance networks. Agents can also coordinate treatment and update insurance data for service providers.

The company reports that its clients save an average of 20% on medical benefits. Corridor's client base spans the technology, hospitality, capital management, and medical practice sectors. Corridor's model addresses challenges faced by small employers in the US. According to a 2025 KFF survey, workers at small firms experienced higher deductibles. Workers at firms with 10 to 199 employees had an average deductible of $2,631, compared to $1,670 in larger firms.

KFF also noted that in 2025, 59% of small businesses offered health insurance. Cost remained a significant barrier for companies that did not provide coverage. Corridor aims to solve these issues with its technology-enhanced brokerage model. The company believes that improved plan comparison can increase accessibility for small employers. Their approach keeps healthcare leadership human-centric while delegating administrative work to AI agents, allowing consultants to focus on employer needs and employee support.

The new funding comes just before the fourth quarter. Corridor notes that about 80% of small businesses choose health insurance plans in the fourth quarter, so the company is preparing its platform for increased demand. The main focus will be on supporting employers in plan selection and enrollment.

Corridor was founded after Jackson Wagner encountered difficulties following a sports injury. This experience highlighted the complexities of navigating medical services and insurance. Wagner later studied computer science and electrical engineering at the University of California, Berkeley. He worked with a former Scale AI colleague, Eric Tsien, on the Capernaum AI project, which focused on clinical AI for musculoskeletal and chronic pain treatment. The founders subsequently connected with Nikhil Aggarwal and Jason Dong from Cold Start. The group ultimately shifted to the broader field of medical benefits. Aggarwal became CEO of Corridor, and Wagner took on an executive role. The company now aims to become a trusted healthcare provider for American businesses.