The Bankers Helping Bankers Fund has made its first investment, committing funds to RiskScout, a regtech company that specializes in compliance automation.
RiskScout said in a press release that it plans to use the funds to accelerate growth, expand its products and invest in partnerships to better serve community banks.
The amount of the investment and the fund’s stake in RiskScout were not disclosed.
The BHB Fund is managed by Latitude38 Venture Partners. The Independent Bankers Association of Texas and FedFis are strategic partners.
“We look forward to a continued partnership with the BHB Fund to build our company and create value for community banks,” Justin Fischer, RiskScout’s CEO, said in the release. “Their support and confidence in our business will help us achieve our goals faster and more efficiently.