Gridline performs verifications on all new investor profiles to comply with Know-Your-Customer (KYC) regulations required by the SEC.
Individual Investors (Natural Persons):
When you register an investor profile for an individual person, you'll be required to confirm your identity before entering the Gridline platform. For most users, auto-approval occurs within 10-20 seconds. In some cases, you'll be asked to upload your government-issued ID and take a selfie. In even more rare cases, we'll need to manually review your profile before approval.
If we are unable to verify your identity or if your identity is returned on a national watchlist, then we will not be able to grant access to that investor profile.
Entity Investors (Investment Firms, Family Offices, Trusts, Endowments):
New investor profiles that are registering as a business entity will be required to complete a KYB (Know Your Business) verification. Similar to a user, we need to verify the validity of the business entity that is registering the investor profile, and confirm that the business is not present on any national watchlists that would preclude them from participating in private investments.
Additionally, we'll also screen beneficial owners. Any person that owns 25% or more of the entity must be entered. A control person (defined as an individual having significant responsibility for controlling, managing, or directing the legal entity customer) can be entered if no one owns 25% or more. These individuals will have a KYC check performed on their identity information.
Business verifications will complete quickly (10-20 seconds). However, it's possible that we will need to manually review a verification submission.
Manual reviews are usually processed within 24 hours. All verification results will have a confirmation email sent.