Casap, a New York-based disputes automation and fraud prevention platform, has raised $8.5 million in funding.
Investors
The round was led by Lightspeed Venture Partners, with participation from Primary Venture Partners, Commerce Ventures, and others.
Lightspeed Venture Partners is a multi-stage venture capital firm with $25 billion in assets under management (AUM) globally. The firm supports disruptive innovations across the enterprise, consumer, health, and fintech sectors. Over the past two decades, Lightspeed has backed hundreds of entrepreneurs and contributed to the growth of over 500 companies worldwide.
Casap Use of Funds
The investment will enable Casap to expand its AI decision-making capabilities and scale its AI-powered solution for banks, credit unions, and fintechs.
About Casap
Casap provides an AI-powered disputes automation and fraud prevention platform designed for financial institutions, particularly banks, credit unions, and fintech companies. Its technology leverages AI to tackle first-party fraud—when individuals dispute legitimate charges to avoid payment—and to automate the complex processes of handling disputes and chargebacks. Casap’s platform includes features such as an AI-powered “first-party fraud score,” which helps identify potentially fraudulent claims early.
Funding Details
Company: Casap Technologies, Inc.
Raised: $8.5M
Round: Seed Round
Funding Date: October 2024
Lead Investors: Lightspeed Venture Partners
Additional Investors: Primary Venture Partners, Commerce Ventures
Company Website: https://www.casaphq.com/
Software Category: Disputes Automation and Fraud Prevention
Source: https://www.prnewswire.com/news-releases/casap-secures-8-5-million-in-funding-to-revolutionize-the-multi-billion-dollar-payment-disputes-process-and-fight-first-party-fraud-302288206.html