Kyle Maloney
September 20, 2023

Introducing Proper

Proper provides APIs for building and operating payments products. We provide tools to help connect payments providers in a single platform, and provide APIs to expedite the development of your financial infrastructure. Our offering includes: a core ledger, a unified financial data platform, and financial operations APIs for reconciliation, compliance, and accounting. With Proper, you can spend less time on low-level financial data infrastructure and more time focused on building for your end-users.

Hello, world! 

Today, we’re excited to introduce Proper. Proper helps fintechs, banks, and internet companies build and operate payments products. We provide modular tools to expedite development of your payments stack and maintain financial data integrity, including: a core ledger, a financial data platform, and financial operations tools for reconciliation, compliance, and accounting. With Proper, companies can spend less time on low-level financial data infrastructure and more time focused on building for their end-users.

We’re backed by Y Combinator and are participating in the Winter 2022 batch. 

About us

Travis and I have spent our careers building financial products at innovative fintechs. We met at Marqeta, where we led the development of new money movement methods for the platform, providing mission critical services to the largest brands in financial services. Through our experience building, launching, and scaling payments and banking products, we’ve come to deeply understand that frictionless financial services are only possible with sophisticated backend infrastructure.

Why we’re building Proper

The financial services industry is fundamentally changing - and there are more providers than ever. 

Today, consumers and businesses simply expect more from their payments & banking experiences. Users can now access financial services from their favorite brands. Neobanks tailor financial products to meet specific user needs. In a world where every company will be a fintech, winners will emerge by providing the best possible product suites - seamlessly blending disparate offerings into elegant experiences - purpose built for their users’ needs. 

And with the large number of fintech service providers coming to market, there has never been more choice when launching financial products. 

But stitching together these services is difficult, time consuming, and error prone. 

Building financial infrastructure is hard. And every company builds some amount of it. Whether building deep infrastructure yourself or integrating with providers, there are many non-obvious decisions to make along the way to support the best way to accept, store, and move money for your customers. 

Payments are complex and it's easy to miss important edge cases. 

Money movement is much more than just initiating payment - it’s tracking, managing, reconciling, and accounting across the full payment lifecycle - a lifecycle which involves complex services, edge cases, and funds flows. When not done well, customers are impacted when payments go missing. Your books don’t tie out. Your engineering roadmap grinds to a halt as teams go hunting for what happened to a given payment - distracting from building great experiences for your users.

We help companies reign in this complexity, maintain financial accuracy, and focus on their core business.

Proper is a core operating system for fintech - providing the backend infrastructure for managing payments & money movement across providers. 

We’re building a suite of financial tools that every fintech needs in modular APIs, including:

  1. A universal ledger - to connect with the best in class fintech APIs and network providers
  2. A data platform built for fintech - to unify and track payments data across providers
  3. Financial operations APIs - to automate reconciliation, accounting, and compliance
  4. A 360 view of payments & customer data across sources - to provide better support to your users

Where we are

We’re solving fundamental challenges faced in financial services and payments - starting with reconciling & managing payment data across sources. 

Reconciliation and maintaining a source of truth

A ledger acts as an immutable source of truth for financial transactions, and reconciliation ensures that each of those transactions agrees with another in the external world. This agreement of time, direction, and amount across parties & services is critical to financial products - ensuring that payments don’t get dropped and that money is where it should be.

But reconciling payments is not intuitive - pulling together payments data across sources, caring for edge cases, settlement timing - it’s a challenge to build performant processes that can scale and flex with your growing business. 

So rather than using spreadsheets, static SQL queries, or fragile in-house solutions, companies can leverage Proper’s reconciliation infrastructure to automate their financial processes. We provide the foundational rails for payments reconciliation, unifying disparate sources into a single financial data platform. We help translate payment transaction data across providers (e.g Stripe) and networks (e.g. ACH) into unified formats to enable companies to verify & analyze their data across providers, and quickly surface exceptions & anomalies.

The universal ledger for fintech

The modern fintech stack is becoming more complex. Companies often leverage up to 12 service providers behind the scenes, stitched together meticulously to provide seamless experiences. But unifying and orchestrating across these providers is hard. So we’re rethinking core banking and payments processing from the inside out for the future of fintech. We’re modernizing the systems that many innovative fintechs are forced to build in house - and exposing them in APIs so that fintechs can expedite their development and focus on their end users.

Improving the interoperability of fintech

By focusing on providing the foundational stitching between sources of providers, we want to enable companies to leverage the best providers and tools available, and launch innovative apps on Proper’s fintech operating system. We want fintechs to be able to launch with the best stack on day 1 - without having to build their backend from scratch.  

We’re on a mission to accelerate the speed of innovation in fintech and improve the health of the financial services ecosystem.

What's next


  • fundraising 
  • building our team 
  • bringing on beta customers 
  • building our partner ecosystem

If you’re interested in any of the above or want to connect to learn more, shoot us a note.

Kyle Maloney
September 20, 2023

Some more posts

Changelog: January 2024

This month, we're focusing on providing you with more control and clarity over your data and processes.

February 7, 2024

Techniques in Financial Reconciliation, Part I: Data Acquisition & Transformation

In part 1 of our new series, we break down the key considerations for the first step of your financial reconciliation process: Data Acquisition and Transformation.

Kyle Maloney
February 3, 2024