Escheatment on autopilot - compliance operations infrastructure for financial services.
Allen Osgood, co-founder and CEO, photographed in the space where forgotten money quietly changes hands - the back office of American finance, where $70 billion waits to be reclaimed.
Most of fintech is built around money moving in - payments, cards, deposits, loans. Eisen went the other way. It built software for the money that goes quiet, gets forgotten, and eventually gets handed to a state government.
Every year, billions of dollars slip out of the financial system through a process almost no one outside compliance departments has heard of: escheatment. When an account sits dormant long enough - a stale check never cashed, a balance the owner forgot, a customer who moved and never updated their address - state law requires the institution holding it to turn those funds over to the government. The rules differ in all 50 states. Deadlines, dormancy periods, notification requirements, and reporting formats vary. For a bank or fintech, it is a slow, manual, error-prone chore usually managed in spreadsheets.
Eisen, founded in New York in 2021 by Allen Osgood and Stephanie Mertz, turns that chore into software. Its platform tracks state-by-state unclaimed-property rules, flags accounts before they cross the line into dormancy, reaches out to owners to re-engage them, and - when funds must move - handles the disbursement and the tax paperwork. The pitch on its homepage is blunt: "Escheatment on autopilot."
The scale of the problem is easy to underestimate. U.S. states hold roughly $70 billion in unclaimed property, and more than 30 million Americans have money waiting for them somewhere in the system. Yet only about $4.5 billion was returned to owners in 2024. Eisen's argument is that most of that gap is a software problem, not a legal one.
In May 2026, the company raised a $10 million Series A led by MissionOG, bringing total funding to $18.5 million. It now monitors nearly $16 billion in balances across tens of millions of accounts at close to 50 companies, and reports keeping more than 31% of at-risk assets out of state custody in 2025.
Every dollar in state custody represents a real person who never expected their money to disappear.
Eisen sells a managed compliance-operations platform. Rather than a single feature, it bundles the full lifecycle of a dormant account - detect, reach out, pay out, report - into modules that sit on top of an institution's existing systems.
Navigates state-by-state unclaimed-property requirements, tracks reporting deadlines and eligibility, and automates the end-to-end escheatment process.
Proactively contacts customers before accounts are lost or funds escheat - a compliance step that doubles as customer retention.
Streamlines personalized customer payments, resolving stale checks and failed payouts so money reaches owners, not the state.
Automates tax compliance - 1099 filing, TIN matching, and B-notice handling - alongside the escheatment workflow.
A real-time view with account-level detail, state-specific rules, eligibility tracking, a disbursement hub, and owner-communication management.
Handles account offboarding, wind-down operations, and force-out closures - the messy moments when relationships end.
Eisen serves institutions on both sides of the escheatment obligation: traditional banks and credit unions, and the newer digital-asset platforms now facing the same rules. Its customer list mixes payments giants, crypto exchanges, and community banks.
Every state sets its own dormancy periods, deadlines, and reporting formats. Managed by hand, it's slow and easy to get wrong - and mistakes mean money lost to the state or regulatory exposure for the institution.
A growing number of states now classify digital assets as unclaimed property. Eisen tracks an estimated $700M in at-risk crypto - a category most platforms had no playbook for until recently.
The alternative to Eisen has usually been a mix of manual spreadsheets, general tax-compliance software, and outside consultancies handling escheatment reporting once a year. Eisen's bet is that this deserves purpose-built, always-on software.
Legacy processes treat escheatment as a once-a-year filing. Eisen reaches owners before the deadline, so funds are returned rather than surrendered - turning compliance into retention.
One platform covers banks, credit unions, and crypto exchanges - a range legacy providers, built for traditional finance, struggle to serve as digital assets enter escheatment territory.
B2B SaaS plus managed compliance operations. Eisen charges financial institutions on a subscription and volume basis tied to the accounts and balances it monitors. A modern engineering stack - MongoDB, Redis, Snowflake, Kafka, and AI tooling including Anthropic's Claude - underpins the automation behind the four managers.
Allen Osgood and Stephanie Mertz start Eisen to tackle escheatment and unclaimed-property compliance.
Index Ventures leads, with Cowboy Ventures, First Round Capital, Homebrew, and Restive Ventures.
Eisen reports keeping more than 31% of at-risk assets from escheating to state custody.
MissionOG leads a $10M Series A (total $18.5M) as Eisen presents at FinovateSpring 2026 and monitors nearly $16B in balances.