Money Transmitter License Software for Fintech Startups
Brico helps fintech startups apply for and maintain money transmitter licenses (MTLs) across multiple states—fast, accurately, and for a flat monthly fee. Skip law firm delays and move to market faster with smart workflows and expert-backed support.
Why Money Transmitter Licensing Slows Startups Down
Every state has different MTL requirements, documents, and timelines—creating a confusing and time-consuming maze for founders. Without dedicated legal resources, teams waste time, burn capital, and risk missing key deadlines that stall product launches and investor momentum.
No Two States Require the Same Thing
Each state has its own forms, fees, timelines, and qualification standards. Without a centralized playbook, founders spend weeks trying to decode what’s needed—and when.
Legal Help Comes With High Costs and Long Timelines
Traditional legal support is expensive and slow. Firms bill hourly, don’t specialize in tech workflows, and often delay your go-to-market strategy.
Missed Steps Can Derail Launch and Fundraising
Without a clear process, it’s easy to miss key filings or deadlines—causing delays that frustrate investors, slow customer acquisition, and threaten your timeline.
How Brico Helps Startups Launch Faster and Stay Compliant
Brico helps fintech startups apply for money transmitter licenses (MTLs) faster and with fewer legal costs. Our platform replaces spreadsheets and manual tracking with smart automation, centralized license workflows, and built-in compliance guidance. From application prep to ongoing renewals, Brico gives founders a launch-ready path—no law firm required.
Up-To-Date Requirements
100+ checklists, 500 pages of state code distilled to create up-to-date actionable and easy to understand requirements across all US states.
Intelligent Automation
Auto form-filling and faster application preparation by leveraging smart data mapping.
Reduced Paperwork
Over 200 paper forms digitized in-product so you reduce reliance on physical paper
Centralized Source of Truth
Centralize all work and knowledge in one platform to own your source of truth for future exams and audits. Never lose context during team expansion or employee turnover.
Built-in Project Management
Effortlessly collaborate with team members and external vendors by assigning tasks, automating reminders and feedback. Save valuable time by eliminating the need for repetitive follow-ups on tasks.
Licensing Expert-in-the-Loop
Get the benefit of a dedicated licensing expert to help unblock any hurdles in addition to the guidance in our platform.
Will Hubbard
Founder and COO, Agree.com
FAQs for Fintech Startups
Have questions about money transmitter licenses (MTLs)? You're not alone. These are the top MTL and compliance questions we hear from money services businesses (MSBs) navigating state-by-state licensing.
What is a money transmitter license (MTL)?
A money transmitter license (MTL) is a state license required to move funds or monetary value. This includes payments, wallets, crypto, and any platform that handles customer money. MTLs are issued separately by each U.S. state.
Do startups need an MTL to launch?
If your product touches customer funds—for payments, transfers, custody, or on-ramping—you may need an MTL in every state you operate. Brico helps you map which licenses you need and when to apply.
How long does it take to get a money transmitter license?
Timelines vary by state, but a full 50-state MTL rollout can take months if done manually or through law firms. Brico helps you move faster with smart task flows, up-to-date requirements, and expert support.
Schedule a Demo
Discover how Brico can simplify your new license applications.