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BusinessQuiet 12d · day 17

AI fraud-dispute startup Casap raises $56M Series B led by Base10

Casap says its AI helps banks fight a surge in first-party credit card fraud, with Synchrony and Experian joining as new strategic investors.

newest coverage 11d agosummary written 11d ago12 pieces NewswiresMastodon

What to know

  • Casap raised a $56 million Series B led by Base10 Partners, bringing total funding to $90 million since its 2023 founding.
  • Synchrony and Experian joined as strategic investors; Casap did not disclose a valuation.
  • The round is driven by a shift in credit card fraud: cardholders themselves now account for nearly a third of fraudulent transactions, fueled by AI dispute tools and social media tip-sharing.
  • Casap plans to expand beyond dispute resolution into complaints handling and collections for banks.

Shanthi Shanmugam CEO and co-founder of CasapSaisi Peter Co-founder of Casap, Chime veteranBase10 Partners Lead investor in Casap's Series BSynchrony Strategic investorExperian Strategic investor

AI fraud-dispute startup Casap raises $56M Series B led by Base10
fortune.com

How it unfolded 2 developments, newest first · click a bar or a number to jump articlesposts

Peak 10 pieces in 4h at Nov 1, 10 PM; 12 pieces over 17 days (10 articles · 2 posts) Oct 28, 7 AM — 2 pieces · 1 article · 1 post — Mastodon 1, Newswires 1Oct 28, 11 AM — quietOct 28, 3 PM — quietOct 28, 7 PM — quietOct 28, 11 PM — quietOct 29, 3 AM — quietOct 29, 7 AM — quietOct 29, 11 AM — quietOct 29, 3 PM — quietOct 29, 7 PM — quietOct 29, 11 PM — quietOct 30, 3 AM — quietOct 30, 7 AM — quietOct 30, 11 AM — quietOct 30, 3 PM — quietOct 30, 7 PM — quietOct 30, 11 PM — quietOct 31, 3 AM — quietOct 31, 7 AM — quietOct 31, 11 AM — quietOct 31, 3 PM — quietOct 31, 7 PM — quietOct 31, 11 PM — quietNov 1, 2 AM — quietNov 1, 6 AM — quietNov 1, 10 AM — quietNov 1, 2 PM — quietNov 1, 6 PM — quietNov 1, 10 PM — 10 pieces · 9 articles · 1 post — Newswires 9, Mastodon 1Nov 2, 2 AM — quietNov 2, 6 AM — quietNov 2, 10 AM — quietNov 2, 2 PM — quietNov 2, 6 PM — quietNov 2, 10 PM — quietNov 3, 2 AM — quietNov 3, 6 AM — quietNov 3, 10 AM — quietNov 3, 2 PM — quietNov 3, 6 PM — quietNov 3, 10 PM — quietNov 4, 2 AM — quietNov 4, 6 AM — quietNov 4, 10 AM — quietNov 4, 2 PM — quietNov 4, 6 PM — quietNov 4, 10 PM — quietNov 5, 2 AM — quietNov 5, 6 AM — quietNov 5, 10 AM — quietNov 5, 2 PM — quietNov 5, 6 PM — quietNov 5, 10 PM — quietNov 6, 2 AM — quietNov 6, 6 AM — quietNov 6, 10 AM — quietNov 6, 2 PM — quietNov 6, 6 PM — quietNov 6, 10 PM — quietNov 7, 2 AM — quietNov 7, 6 AM — quietNov 7, 10 AM — quietNov 7, 2 PM — quietNov 7, 6 PM — quietNov 7, 10 PM — quietNov 8, 2 AM — quietNov 8, 6 AM — quietNov 8, 10 AM — quietNov 8, 2 PM — quietNov 8, 6 PM — quietNov 8, 10 PM — quietNov 9, 2 AM — quietNov 9, 6 AM — quietNov 9, 10 AM — quietNov 9, 2 PM — quietNov 9, 6 PM — quietNov 9, 10 PM — quietNov 10, 2 AM — quietNov 10, 6 AM — quietNov 10, 10 AM — quietNov 10, 2 PM — quietNov 10, 6 PM — quietNov 10, 10 PM — quietNov 11, 2 AM — quietNov 11, 6 AM — quietNov 11, 10 AM — quietNov 11, 2 PM — quietNov 11, 6 PM — quietNov 11, 10 PM — quietYesterday, 2 AM — quietYesterday, 6 AM — quietYesterday, 10 AM — quietYesterday, 2 PM — quietYesterday, 6 PM — quietYesterday, 10 PM — quietToday, 2 AM — quietToday, 6 AM — quietToday, 10 AM — quietToday, 2 PM — quietToday, 6 PM — quiet 12
Oct 30Nov 1Nov 3Nov 5Nov 7Nov 9Nov 11now · 9:13 PM ET
  1. background

    Funding round gets wider trade and aggregator pickup — Outlets including Pulse 2.0, FinSMEs, Ventureburn, The SaaS News, VC News Daily and Techmeme republished or summarized the Series B announcement, with Casap also issuing its own release via PR Newswire.

  2. 2

    Casap plans to expand into complaints and collections

    Beyond dispute resolution, Casap intends to use the new funding to push into adjacent bank back-office functions, including handling customer complaints and collections services.

  3. 4 days quiet
  4. 1

    Casap touts fraud-loss and speed metrics to clients

    The startup says customers have cut first-party fraud losses by as much as 51%, lifted chargeback win rates to 96% versus a 60% industry average, and cut resolution time to about 8 days from up to 90.

    “It comes back to people thinking ‘this is a victimless crime, banks have a lot of money and I need money’, so people tell what they think are white lies…”
    — Shanthi Shanmugam, CEO and co-founder of Casap · source
    1. 1 outlet Financial AI startup Casap raises $56 million to help banks stop an explosion of customer fraud

      first by Fortune, 16d ago

  5. background

    Shanmugam explains the shift toward first-party fraud — Casap's CEO says cardholders now account for nearly a third of fraudulent transactions, driven by AI tools that ease disputing charges and social media groups sharing tips for claiming 'free stuff', while consumer-protection rules make it costly for banks to reject dishonest claims.

  6. background

    Casap raises $56M Series B led by Base10 Partners — The round brings Casap's total funding to $90 million; financial giants Synchrony and Experian joined as strategic investors, and the company declined to disclose a valuation.

  7. background

    Casap launches to automate bank fraud-dispute handling — Shanthi Shanmugam and Chime veteran Saisi Peter founded Casap, building an AI suite to help banks and card companies resolve disputes and chargebacks.

Also covered reported alongside — the timeline has no entry for these yet

  1. 5 outlets Casap Scores $56M Series B Funding

    first by VC News Daily, 11d ago · also FinSMEs, The SaaS News, Casap, Fortune

    4 more headlines
  2. 3 outlets Casap Raises $56 Million for Agentic AI Financial Services

    first by PYMNTS.com, 11d ago · also WOWTALE, Pulse 2.0

    2 more headlines

and 1 smaller piece