Palm Receives Investment from Amex Ventures to Advance Portable Business Identity

NEW YORK--(BUSINESS WIRE)--Palm, a business identity infrastructure platform, today announced a strategic investment from Amex Ventures, the corporate venture capital group of American Express. The investment will support Palm’s continued product development, partner integrations, and the expansion of its API-driven identity network across financial services and vertical SaaS platforms.

Today, business identity is fragmented across government registries, banks, and software platforms. Each time a business applies for credit, onboards to a financial platform, or makes a regulatory filing, it must re-enter the same information and re-prove who it is. The result is friction for business owners and cost for the institutions that serve them.

Palm connects directly to authoritative data sources across all 50 states and the IRS, combining verification, compliance automation, and continuous monitoring into a single identity service. By automating annual reports, registered agent services, and certain regulatory filings, Palm ensures that when a business completes these compliance obligations, its identity record is refreshed across the Palm identity network at the same time.

“Most business identity systems are static, but businesses are constantly evolving,” said Alex Goode, CEO and Co-Founder of Palm. “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.”

For financial institutions, fintech platforms, and marketplaces, Palm enables a shift from point-in-time verification to event-driven monitoring tied to actual registry changes. This reduces repetitive re-verification cycles while improving confidence in business identity data.

“Businesses have an inherent right to an accurate, accepted identity. The institutions that serve them are recognizing that identity can’t stay fragmented,” said Connor Patterson, Co-Founder and COO of Palm. “That’s what we’re building, and this investment from Amex Ventures supports our business model.”

“Accurate and portable business identity will be foundational to the future of financial services,” said Margaret Lim, Managing Director at Amex Ventures. “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.”

“Before Palm, compliance felt reactive — I was always worried something was outdated or missing,” said Jason Lam, Founder of Full Circle Nature. “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.”

Palm is expanding its partner ecosystem across financial services, vertical SaaS platforms, and developers, with a goal of growing the number of verified business identities on the network.

About Palm

Palm is building the portable business identity network for the 35 million businesses in the United States. By combining direct registry connections, verification, event-driven monitoring, and API-first compliance infrastructure, Palm enables businesses to create, manage, and syndicate their identity everywhere they do business.