Casap Raises $8.5M to Revolutionize Fraud Prevention & Dispute Automation
Slice of Finance Team
Oct 30, 2024
Key Highlights:
- $8.5M raised to enhance Casap’s AI dispute automation and fraud prevention.
- Led by Lightspeed Venture Partners with other fintech industry leaders.
- First-party fraud score system to curb fraud costs for banks, credit unions, and fintechs.
- 29% cost savings for institutions with faster dispute resolutions and consumer loyalty focus.
- Proven results with partners like Chartway Credit Union seeing immediate impact.
Source: PR Newswire
Quotes
“ "Our platform helps banks, credit unions and fintechs meet these challenges head-on with intelligent automation that delivers fast, frictionless dispute resolution at a fraction of today’s cost." ”
Shanthi Shanmugam, CEO at Casap
Our Take:
Casap’s recent funding round highlights its role as a disruptive force in fraud prevention and disputes automation, addressing a growing need for streamlined, intelligent solutions in financial institutions. The $8.5 million investment by industry leaders underscores a clear market demand for tools that not only curb fraud but also enhance operational efficiency. Casap’s AI-driven "first-party fraud score" and regulatory insights offer unprecedented transparency, setting it apart as a cost-saving, trust-building asset for banks, credit unions, and fintech firms in a market increasingly driven by consumer satisfaction and loyalty.
