What's new?

Fund managers can now require two approvers to authorize payments before processing.

What’s important about this change?

This feature provides enhanced controls over releasing payments, ensuring that VC and PE firms can adhere to their audit procedures while maintaining control over their financial operations.

How does it work?

Select Firm Settings in the left hand navigation, then click Settings. Within the Settings tab, click People, then scroll to the bottom to the new Payment approval section.

Here you can set how many approvers are required (up to two) and the threshold amount. Only users with Admin permissions can update this section. If you need to update who the approvers are, scroll to the People section at the top of the page.

You’ll also have the ability to track the progress of active payments and view the history of completed payments, including who approved them and when they were approved in your Activity tab.

How do I learn more?

This feature is only available for fund managers using Carta’s automated money movement, the most hassle free way to process payments. To learn more about this feature and automated money movement, reach out to your AD.