Sardine Secures $70M in Funding Led by Activant Capital to Boost Fraud Prevention Solutions
Sardine, a prominent AI-driven risk platform focused on fraud prevention, compliance, and credit underwriting, has successfully raised $70 million in a Series C funding round. This substantial investment reinforces Sardine’s mission to assist financial institutions in combating fraud and enhancing risk operations.
Funding Milestone for Sardine
With this latest funding round, Sardine has amassed a total of $145 million in funding. The Series C round was spearheaded by Activant Capital, with notable contributions from industry giants such as Andreessen Horowitz, Nyca Partners, Google Ventures, Geodesic Capital, Cross Creek Capital, Moody’s Analytics, Experian Ventures, and NAventures.
Innovative AI Solutions for Risk Management
Sardine leverages AI-powered solutions to automate critical processes such as:
- Fraud detection
- Sanctions screening
- Compliance processes
The platform has successfully profiled over 2.2 billion devices, enabling financial institutions to:
- Mitigate risks
- Enhance credit decision-making
- Reduce manual workloads for risk teams
Growing Client Base and Success Metrics
Currently, more than 300 enterprises, including renowned names like FIS, Ascensus, Deel, GoDaddy, and X, depend on Sardine to effectively tackle financial crime and optimize risk management strategies. The company has reported impressive growth, achieving a 130% year-on-year ARR growth in 2024 and nearly doubling its customer base.
Leadership Insights on Industry Challenges
Sardine’s CEO, Soups Ranjan, highlighted the increasing challenges faced by risk teams, stating: “Alert volumes have surged 800%, compliance hiring can’t keep pace, and analysts are overwhelmed with manual reviews.” He emphasized the repetitive nature of tasks such as clearing transaction alerts and investigating fraud rings, which are essential yet time-consuming.
“Sardine’s AI agents are designed to automate these critical processes, allowing teams to respond faster, minimize false positives, and concentrate on genuine threats,” he added. With this new investment, the company aims to enhance its AI infrastructure, making risk teams more efficient in the fight against modern financial crime.
Investor Support and Industry Impact
Industry leaders have expressed strong support for Sardine’s innovative technology. Andrew Steele, a partner at Activant Capital, remarked, “We’re doubling down on Sardine because they’ve created an AI-first risk platform that evolves with each transaction.”
He further noted, “In a time when AI is accelerating financial crime, Sardine’s ability to connect billions of data points across fraud, compliance, and risk provides a significant competitive edge.” The firm’s exceptional execution in this domain has positioned them as a critical infrastructure layer for trust within the digital economy.
For more insights on how AI is transforming the financial landscape, visit Finextra.
