AI-powered fraud prevention and risk management platform Sardine has raised $70 million in a Series C funding round led by US VC firm Activant Capital, with plans to roll out new AI agents for risk and compliance teams.Sardine raises $70m in Series C roundAndreessen Horowitz, Nyca Partners, Google Ventures, Geodesic Capital, Cross Creek Capital, Moody’s Analytics, Experian Ventures, and NAventures were among the mix of new and existing investors supporting the round, which builds on the company’s $51.5 million Series B in 2022.With its latest cash injection, Sardine has now raised $145 million in total capital since launching in 2020.The regtech says that its offering is currently being used by more than 300 enterprises across 70 countries, including FIS, Ascensus, Deel, and GoDaddy, “to prevent fraud, stop money laundering, and streamline risk operations”.This latest capital raise will be used to launch “a suite of intelligent agents designed to streamline fraud and compliance operations, reduce manual workloads, and cut costs for financial institutions”, the company adds.As recently analysed by FinTech Futures, AI agents are an advanced form of technology capable of autonomous decision making, and in the context of Sardine’s fraud detection platform, the company says the tech will be utilised to “automate critical investigation and compliance processes, allowing risk teams to focus on complex cases while ensuring accuracy and regulatory compliance”.The regtech has four specific areas of agentic application in mind for its investment: KYC onboarding agents for edge case resolution; sanction screening agents for automated audits; merchant risk agents for risk scoring and credit decisioning; and disputes agents for formatting chargeback submissions.“Sardine’s AI agents automate the most time-consuming parts of risk operations, helping teams move faster, reduce false positives, and focus on stopping real threats,” explains CEO Soups Ranjan.
Gio. Feb 13th, 2025
