Palm Receives Investment from Amex Ventures

The company plans to use the funds to continue developing its products, expand partner integrations, and grow its API-based identity network across financial services and SaaS platforms.

For financial institutions, fintechs and marketplaces, Palm replaces one-time checks with real time monitoring based on registry updates, reducing repeated verifications and improving trust in business identity data.

Palm connects directly to official data sources across all 50 states, and the IRS, bringing verification, compliance automation, and continuous monitoring into a single service. It also automates tasks like annual reports, registered agent services, and some filings, so when a business completes these requirements, its identity record is automatically updated across the Palm network.

Today, business identity information is scattered across government systems, banks, and software platforms. Each time a business applies for credit, joins a financial platform, or files paperwork, it has to re enter the same details, and verify its identity, creating extra work for businesses and added costs for institutions.

Palm is expanding its partner network across financial services, SaaS platforms, and developers to increase the number of verified business identities on its platform.

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“Businesses deserve a clear and trusted identity, and institutions are realizing it shouldn’t be fragmented,” said Connor Patterson, Co-Founder and COO of Palm. “That’s what we’re building, and this investment from Amex Ventures supports our vision.”

“Reliable and portable business identity will be key to the future of financial services,” said Margaret Lim, Managing Director at Amex Ventures. “Palm is solving an important problem by linking verification with compliance in a way that helps both businesses and institutions.”

“Before Palm, compliance felt stressful because I worried something was outdated and missing said Jason Lam Founder of Full Circle Nature. Now my business has one central identity that stays up to date. Palm keeps us compliant and makes it easier to work with banks, and partners without repeating our information.”

“Most business identity systems are static, but businesses are always changing,” said Alex Goode, CEO and Co-Founder of Palm. “Compliance is where identity gets updated in real life. Every report, update, or filing is a chance for a business to confirm who it is. We built Palm so these moments keep a business’s identity up to date and ready to use, instead of starting over each time.”

About Palm

Founded in 2023, by Alex Goode and Connor P., Palm is building a network of portable business identities for 35 million U.S. businesses. By combining direct registry connections, verification, real-time monitoring, and API based compliance tools, Palm helps businesses create, manage, and share their identity across all the platforms they use.

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