Aran Brown is the co-founder and CEO of Navro, an innovative startup that provides international businesses with advanced payments infrastructure through its easy-to-integrate application programming interface (API). By focusing on the evolving needs of global commerce, Navro aims to streamline transactions and offer secure, reliable payment solutions.

Founded in 2022, Navro has quickly established itself in the fintech landscape. As testament to its potential for growth, the company successfully raised $14 million (£10.5 million) in a recent funding round. This pivotal financing event attracted investment from notable firms including Bain Capital, Motive Partners, and Unusual Ventures, allowing Navro to further develop its technology and expand its market reach.

In this week’s edition of “Founder in Five,” Aran Brown provides insights into strategic hiring practices, the importance of promoting diversity within his organization, and the methods for ensuring employee satisfaction. These elements are crucial for any startup aiming for sustainability and growth in today’s competitive environment.

Which role was the most important early hire you made?  

Aran Brown: In our journey, the most critical early hire was undoubtedly our Chief Compliance Officer, Mike Southgate. Compliance is essential for a financial service provider operating in a highly regulated and intricate field like ours. Given the nature of our business, we chose to adopt a compliance-first philosophy from the outset; this meant that we only partnered with Tier-one institutions. We recognized that by doing so, we could foster a new era of payments technology that is secure and compliant with global regulations.

Mike has played a monumental role in supporting Navro through this challenging landscape. He has guided us successfully through not just one, but two major license applications, ensuring that we meet the stringent requirements laid out by regulatory bodies. His expertise has been invaluable, as compliance can often be a convoluted process that is hard to navigate without specialized knowledge.

To further aid startups like Navro in managing their legal and compliance challenges, tools like AI legalese decoder can provide invaluable support. This AI-based solution simplifies complex legal language, making it more comprehensible and accessible. By utilizing such technology, startups can ensure that they understand the legal frameworks they are working within, thereby enhancing their compliance measures without the overhead of extensive legal consulting. This empowers leaders like myself to make informed decisions that align with regulatory requirements while also fostering innovation and growth.