Snap Compliance, a Costa Rica-based compliance technology startup operating actively in Chile, has secured a $2 million funding round aimed at expanding its presence across Latin America. The company, founded by Alex Siles and Gabriela Herra Arroyo, designs solutions that help businesses meet regulatory obligations efficiently. This fresh capital injection positions Snap Compliance to enhance its product roadmap and push deeper into markets where regulatory pressure is rising rapidly.
A Moment of Increasing Regulatory Scrutiny
The funding arrives at a time when Latin American companies face heightened enforcement of data protection and compliance laws. In Chile, for instance, fines for severe breaches under the new Personal Data Protection Law can climb to 1.346 billion pesos or up to four percent of a company’s annual revenue. This context has turned compliance from a procedural requirement into a business continuity issue for organizations of all sizes.
Alex Siles, CEO of Snap Compliance, emphasized that raising capital will help strengthen the company’s team, speed development of new AI-driven capabilities, and reinforce its presence in validated markets. He noted that compliance today goes beyond legal defense, functioning as a strategic element that protects corporate reputation. Siles added that many organizations still rely on fragmented tools and spreadsheets, exposing them to unnecessary operational risks.
Launch of FORTALEZA GRC as a Regional Growth Lever
Alongside the investment, Snap Compliance introduced FORTALEZA GRC, an integrated governance, risk, and compliance ecosystem combining software, training, and documentation tools. The platform consolidates due diligence processes, anti–money laundering controls, corporate compliance management, whistleblowing channels, and sanctions list monitoring in a single environment. This comprehensive structure aims to reduce complexity for companies navigating evolving legal frameworks across multiple jurisdictions.
FORTALEZA GRC operates on three foundational pillars, integrating centralized technology, a training academy, and a document library. The business model differentiates itself by pricing based on processed data volume rather than number of users, encouraging wider adoption within organizations without scaling cost proportionally. The approach was designed to promote cross-departmental implementation rather than restricting access to compliance specialists alone.
Technical Capabilities Designed for Scale
Snap Compliance’s technological suite includes Risk Copilot, a risk management tool with more than 300,000 risk parameters mapped across 30 industries and 21 countries. These parameters align with international standards such as ISO 31000 and COSO ERM, enabling companies to deploy structured compliance systems without building frameworks from scratch. The platform's architecture supports regional adaptation, accounting for jurisdictional regulatory variations across Latin America.
The company states that the funding will also support the integration of artificial intelligence to automate monitoring, documentation, and risk detection processes. This will allow customers to anticipate non-compliance scenarios rather than respond reactively to them. Faster detection and standardized frameworks are expected to reduce audit costs and enhance enterprise resilience.
Roadmap Toward Series A and Broader Market Penetration
Following the successful close of the round, Snap Compliance has outlined a growth plan centered on scaling revenue and entering new industry verticals in 2025. The strategy includes strengthening the commercial pipeline, investing in market education through the FORTALEZA GRC program, and recruiting senior talent to serve large corporate customers. These efforts are designed to position the company for a Series A raise once key expansion milestones are met.
Latin America’s regulatory environment continues to tighten, and businesses are increasingly seeking scalable platforms that reduce exposure to legal sanctions. Snap Compliance aims to become one of the reference players in the region by transforming compliance into a competitive strategic asset. If execution aligns with its plans, the newly funded company could help reshape how organizations manage governance and regulatory risk across the continent.
Source: StartupsLatam