Fraud compliance fintech Sardine raises USD 19.5 mln

Monday 14 February 2022 13:48 CET | News

US-based Sardine, a fraud and compliance platform for fintechs, has announced USD 19.5 million in Series A funding from Andreessen Horowitz, NYCA, and Experian Ventures.

Since its launch in 2021, Sardine powers over 50 customers, including neobanks (Brex and Chipper Cash), crypto exchanges (FTX, Luno, and Bakkt), and global NFT and crypto platforms (Abra, Transak, MoonPay, and Candy Digital). Funds will be used for growth, as well as to further product development and hiring aggressively in the coming months.

Additionally, the company announced that it has extended its fraud prevention platform to now allow instant bank ACH transfers for crypto on-ramps. This removes the traditional 3-7 day waiting period for consumers before they gain access to their funds while Sardine assumes all fraud, regulatory compliance, and legal risks.

Sardine is suited to provide Instant ACH transfers based on its core technology, which uses AI to provide a real-time fraud score based on the user’s identity, device, and behaviour patterns at the time of account origination and account funding. It also continuously monitors for fraud during account login, deposits, and withdrawals. Customers integrate Sardine’s SDK into their web or mobile apps, and Sardine handles the rest.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, fraud detection, compliance, fintech, ACH
Categories: Fraud & Financial Crime
Companies: Sardine
Countries: United States
This article is part of category

Fraud & Financial Crime


Discover all the Company news on Sardine and other articles related to Sardine in The Paypers News, Reports, and insights on the payments and fintech industry: