Sardine Secures $70M in Series C Funding to Accelerate AI-Powered Fraud Prevention Solutions
In a significant move to enhance fraud prevention, Sardine, a San Francisco-based company, has successfully completed a Series C funding round raising US$70 million, led by Activant Capital. This latest investment brings the total funding to US$145 million, enabling Sardine to bolster its capabilities in fraud detection and compliance for financial institutions and businesses globally.
Overview of Sardine’s Mission and Growth
Founded in 2020, Sardine was created to tackle the increasing challenges associated with fraud detection and compliance in an era where financial transactions are expedited and AI-driven scams are on the rise. The company’s innovative approach leverages cutting-edge technology to address these challenges effectively.
Enhancing AI-Driven Fraud Detection
With the new funding, Sardine is focused on advancing its suite of AI agents that are designed to optimize fraud detection and compliance workflows. These agents automate critical risk functions while ensuring human oversight and regulatory adherence.
- KYC Agent: Automates complex identity verification processes, leading to an impressive auto-resolution rate of 88% and significantly reducing onboarding delays.
Sardine’s platform integrates risk management across several areas:
- Fraud Prevention
- Anti-Money Laundering (AML) Compliance
- Credit Underwriting
Utilizing Network Effects for Fraud Detection
By profiling over 2.2 billion devices, Sardine harnesses network effects to detect emerging fraud patterns across various industries. The company intends to utilize the Series C funding to:
- Enhance its AI-driven fraud detection capabilities.
- Expand global operations.
- Improve real-time risk assessments for financial services.
Future Plans and Compliance Focus
Sardine’s future plans include:
- Refining AI agents while ensuring compliance with regulatory standards.
- Integrating fraud prevention and AML capabilities into a unified risk management platform.
- Improving real-time transaction monitoring for instant payment systems.
- Detecting AI-generated fraud through behavioral biometrics and device intelligence.
The company also seeks to enhance security for digital stores of value, such as pensions, loyalty points, and gift cards, while refining risk detection capabilities for B2B transactions. As financial regulations evolve, Sardine is prepared to assist banks and fintech firms in meeting new compliance requirements, including Nacha’s upcoming fraud detection mandate for ACH credits by June 2026.
Commitment to Rebuilding Trust in Financial Services
Sardine’s leadership emphasizes that this funding will significantly accelerate their mission to rebuild trust in financial services. “The challenges we face are immense,” the company stated. “However, we have assembled a dedicated team of risk experts, data scientists, and engineers committed to solving these issues.” They add, “We’re building the tools we wish we had. And we’re just getting started.”
For more information on Sardine and its innovative solutions, visit their official website: Sardine.
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