Key Takeaways
- • Casap, a US-based financial dispute automation platform, closed a $56 million Series B round, bringing its total funding to $90 million.
- • The Series B was led by Base10 Partners, with new backers Experian and Synchrony and continued participation from Emergence Capital and Lightspeed Venture Partners.
- • Casap reports tenfold revenue growth since its $25 million Series A last year and now serves more than 100 banks, credit unions, fintechs, and payment processors.
- • The company's AI agents automate chargebacks and first-party fraud handling across the full payments dispute lifecycle.
- • Casap plans to expand into fraud, claims, collections, and complex exceptions, and is hiring additional AI engineers.
Summary
Casap, a US-based financial dispute automation platform, has closed a $56 million Series B funding round to support continued technology development, according to FinTech Futures. The round brings the company's total funding raised to date to $90 million.
Founded in 2023 by CEO Shanthi Shanmugam and Saisi Peter, Casap provides a suite of AI agents designed to automate chargebacks and address first-party fraud. The agents currently handle tasks across the full payments dispute lifecycle, including decisioning, evidence collection, intake, investigation, recovery, and client communication.
The Series B was led by Californian venture capital firm Base10 Partners. It also drew participation from new backers Experian and Synchrony, alongside continued support from Emergence Capital and Lightspeed Venture Partners, both of which also invested in Casap's $25 million Series A round last year.
Since the Series A, Casap reports tenfold revenue growth and now serves more than 100 banks, credit unions, fintechs, and payment processors. Shanmugam said the company started with disputes because it was one of the hardest problems in financial services, adding that the ambition was always broader: "We wanted to prove that AI could do more than make work more efficient."
Looking ahead, Casap intends to extend its platform to a "broader set of high-stakes financial operations," including fraud, claims, collections, and complex exceptions. The company is investing further in product development, and co-founder Peter said on LinkedIn that Casap is hiring additional AI engineers and technical builders.
Founded in 2023 by CEO Shanthi Shanmugam and Saisi Peter, Casap provides a suite of AI agents designed to automate chargebacks and address first-party fraud. The agents currently handle tasks across the full payments dispute lifecycle, including decisioning, evidence collection, intake, investigation, recovery, and client communication.
The Series B was led by Californian venture capital firm Base10 Partners. It also drew participation from new backers Experian and Synchrony, alongside continued support from Emergence Capital and Lightspeed Venture Partners, both of which also invested in Casap's $25 million Series A round last year.
Since the Series A, Casap reports tenfold revenue growth and now serves more than 100 banks, credit unions, fintechs, and payment processors. Shanmugam said the company started with disputes because it was one of the hardest problems in financial services, adding that the ambition was always broader: "We wanted to prove that AI could do more than make work more efficient."
Looking ahead, Casap intends to extend its platform to a "broader set of high-stakes financial operations," including fraud, claims, collections, and complex exceptions. The company is investing further in product development, and co-founder Peter said on LinkedIn that Casap is hiring additional AI engineers and technical builders.
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