![[Funding news] NYC-based Casap Secures $8.5Million in Funding](https://startuprise.io/wp-content/uploads/2024/10/NYC-based-Casap-Secures-8.5Million-in-Funding.webp)
Casap, a platform that automates disputes and prevents fraud, has raised $8.5 million in funding. The round was led by Lightspeed Venture Partners, with contributions from Primary Venture Partners, Commerce Ventures, Curql, Alloy Labs, and executives from companies like Chime, Robinhood, Square, Current, Novo, and Alloy.
The company plans to use the funds to grow its platform. Co-founded by Shanthi Shanmugam and Saisi Peter Casap uses AI to streamline the dispute process and enhance fraud prevention.
Read also – [Funding news] NC-based mPATH Secures $3Million in Funding
The platform can analyze evidence, predict outcomes, and automate actions like issuing credits, filing chargebacks, and responding to merchants. It also uses a fraud score to spot suspicious customers and merchants, helping to reduce disputes before they happen.
It is already helping customers in the payments industry, including big fintech companies and established organizations like Chartway Credit Union, as well as Banking-as-a-Service providers and sponsor banks.
About Casap
Casap’s Copilot & Collaboration platform can fully automate the dispute process from start to finish. It helps institutions and fintechs effectively manage first-party fraud while turning disputes into chances to build customer loyalty.
