https://techcrunch.com/2023/02/01/passthrough-raises-8-4m-to-simplify-the-process-of-investor-onboarding/

Tim Flannery, Alex Laplante and Ben Doran were working together at Carta’s investor services team when they realized that onboarding funds to invest in startups was a taxing (no pun intended) process. It required manually creating subscription agreements — agreements that investors fill out to invest in a fund — by piecing together unstructured data across various financial systems. Often, this work, which was unpaid, led to errors and took an incredibly long amount of time, Flannery says.

“It was a nightmare to deal with,” Flannery told TechCrunch in an email interview. “We also spotted problems around corralling investors, having a single source of truth for the raise and incomplete or inaccurate subscription documents.”