Eisen banks $18.5m to close the dormant-asset compliance gap

Escheatment is one of the least glamorous obligations in financial services, and one of the most consequential. State law requires institutions to hand abandoned funds to the government once an account goes dormant, with each state setting its own dormancy periods, notice rules and remittance deadlines. The numbers show how badly the process works in practice: more than 30 million Americans have unclaimed property sitting in state custody, with states holding a combined $70 billion in consumer assets. Only $4.5 billion was returned to owners in 2024.

New York-based Eisen has raised $18.5 million to attack that gap. The round combines a $10 million Series A led by MissionOG with a previously unannounced $8.5 million seed round led by Index Ventures. Cowboy Ventures, First Round Capital, Homebrew and Restive Ventures also took part.

Why dormant assets are a growing liability

Eisen's platform embeds state-by-state requirements directly into account operations, letting firms spot dormancy risk earlier, cut manual compliance work and keep more customer money in customer accounts rather than surrendering it to the state. The company says it monitors nearly $16 billion in balances across tens of millions of accounts at firms including Adyen, Binance.US, BitGo and PeoplesBank, and that it prevented more than 31% of at-risk assets from being lost to state custody last year.

The pitch lands at a moment when the rulebook is straining. As co-founder and chief executive Allen Osgood put it, "The rules governing dormant assets weren't built for crypto wallets, fintech platforms, or digital-first banking. Most institutions are sitting on 5x to 10x more liability than they realize."

Expanding beyond escheatment

Founded in 2021, Eisen is widening its remit beyond escheatment into the broader compliance stack. The platform now spans escheatment, disbursement and 1099 reporting, with a Tax Compliance Suite covering TIN matching and B-notice handling. "We started with escheatment because the gap there is the widest, but the same operational pattern shows up across the compliance stack," Osgood said. For banks and digital asset firms wrestling with fragmented state regimes, that operational layer is the real prize.

Source: Finovate.