Allen Osgood spent enough time at Coinbase to know that the crypto industry has a problem most founders would rather not think about: what happens when customers vanish.
Not in some dramatic, blockchain-mystery way—just the mundane kind of disappearing that happens when someone changes their email, moves across state lines, or simply forgets about a dormant account. Eventually, those abandoned funds become the government's problem. Or rather, the government makes them your problem.
That's the business Osgood built. His company, Eisen, raised $10 million in a Series A round led by MissionOG, announced in May 2026, the New York-based startup disclosed. The financing brings Eisen's total raised to $18.5 million and included checks from Index Ventures, First Round Capital, Cowboy Ventures, Homebrew, and Restive Ventures. Tucked into the announcement: an $8.5 million seed round led by Index that had flown under the radar until now.
The Escheatment Maze
Eisen is in the business of escheatment—a term that sounds vaguely medieval because, in a sense, it is. The legal process dates back centuries, codifying how states claim dormant customer funds when financial institutions lose touch with account holders. In the U.S., it's become a sprawling bureaucratic tangle. Industry data suggests something in the neighborhood of $70 billion sits in state coffers as unclaimed property, though estimates vary depending on who's counting and how.
The company monitors balances for clients that include Adyen, Binance.US, BitGo, OKX, and PeoplesBank—tens of millions of accounts representing billions in assets that could, theoretically, slip into state custody if no one intervenes. For crypto platforms in particular, the stakes have gotten noticeably higher. Osgood told Fortune earlier this year that Eisen is tracking somewhere around $700 million in digital assets that could become escheatable in the near term. States like California, New York, Delaware, and Florida have started treating crypto as unclaimed property, a shift that has brought more platforms under regulated processes.
Perhaps more than the founders expected, the regulatory vise has tightened.
Customers Who Actually Admit It
Bluevine, the small business banking platform, lists Eisen explicitly as its partner for unclaimed funds outreach on its public support pages—a rare bit of transparency in an industry where compliance vendors often work quietly in the background. The fintech has also inked partnerships with Finxact, the next-generation core banking system owned by Fiserv, and was tapped by Sutton Payments as a preferred partner for escheatment and offboarding operations.
According to Eisen's own numbers, the platform prevented more than 31 percent of at-risk assets from being lost to state custody last year. That's a surprisingly high save rate in a world where the default outcome is often just... letting the state take it.
The mechanics are less glamorous than growth-stage startups usually trumpet. Eisen automates the compliance drudgery: pre-escheat dormancy tracking, due diligence outreach (think: certified letters and email campaigns), multi-state rules engines that parse wildly inconsistent regulations, reporting and remittance workflows, audit trails, 1099 generation. There's also a line of business around "wind-downs" and "force-outs"—corporate euphemisms for when a bank or fintech decides it's time to close accounts en masse, whether for risk reasons or simply because the unit economics don't pencil out.
What Comes Next
Eisen employs roughly 25 people, a headcount that's grown steadily since Osgood launched the company in 2021. The startup markets itself as an "AI-enabled compliance operations platform," though what that means in practice is less about chatbots and more about continuously applying state-specific rules across accounts without a small army of paralegals manually tracking deadlines.
With banking-as-a-service platforms and their sponsor banks under sustained regulatory pressure—and crypto firms navigating new federal oversight—Eisen's pitch boils down to this: proactive dormancy management beats scrambling to file with 50 state treasurers after the fact. The Series A funding will go toward scaling what the company calls its "autopilot" compliance infrastructure, a term that may sound ambitious until you consider the alternative is spreadsheets and missed deadlines.
It's not the kind of startup that typically generates breathless hype. But in a financial system where forgotten accounts quietly pile up by the billions, perhaps that's exactly the point.
