Palm, a business identity infrastructure platform, announced a strategic investment from Amex Ventures, the corporate venture capital arm of American Express, to support the expansion of its API-driven identity network.
The investment will be used to accelerate product development, deepen partner integrations, and expand Palm’s network across financial services and vertical SaaS platforms. The company is focused on addressing fragmentation in how business identity is created, verified, and maintained across institutions.
Today, business identity data is spread across government registries, banks, and software platforms, requiring businesses to repeatedly re-enter and verify the same information when applying for credit, onboarding to financial platforms, or meeting regulatory requirements. Palm aims to streamline this process by creating a unified, continuously updated identity layer.
The platform connects directly to authoritative data sources across all 50 states and the Internal Revenue Service, combining verification, compliance automation, and continuous monitoring into a single service. By automating compliance processes such as annual reports, registered agent updates, and regulatory filings, Palm ensures that business identity records remain current and reusable across its network.
Palm’s model enables financial institutions, fintech platforms, and marketplaces to transition from point-in-time verification to event-driven monitoring tied to real-time registry updates. This approach reduces redundant verification processes while improving the accuracy and reliability of business identity data.
The company is also expanding its ecosystem of partners and developers to increase the number of verified business identities on its platform and to support a more seamless experience for businesses operating across multiple systems.
KEY QUOTES:
“Most business identity systems are static, but businesses are constantly evolving. Compliance is where identity gets renewed in the real world. Every annual report, every registered agent update, every required filing is a moment where a business confirms who it is. We built Palm so those moments strengthen a living, portable identity that stays current and ready to use — instead of asking businesses to start from zero each time.”
Alex Goode, CEO and Co-Founder, Palm
“Businesses have an inherent right to an accurate, accepted identity. The institutions that serve them are recognizing that identity can’t stay fragmented. That’s what we’re building, and this investment from Amex Ventures supports our business model.”
Connor Patterson, Co-Founder and Chief Operating Officer, Palm
“Accurate and portable business identity will be foundational to the future of financial services. Palm is addressing a critical gap by connecting verification and registration compliance in a way that benefits both businesses and the institutions that serve them.”
Margaret Lim, Managing Director, Amex Ventures
“Before Palm, compliance felt reactive — I was always worried something was outdated or missing. Now my business has a central identity that stays current. Palm keeps us compliant and makes it easier to work with banks and partners without re-explaining who we are every time.”
Jason Lam, Founder, Full Circle Nature
