Casap has raised USD 56 million in a Series B round led by Base10 Partners, with Experian and Synchrony participating as strategic investors.
Existing investors, including Emergence Capital and Lightspeed Venture Partners, also took part in the round, which brings Casap’s total funding to USD 90 million and comes just over a year after its USD 25 million Series A. According to Casap, its revenue has grown tenfold over that period. The company, which started with dispute management, plans to use the funding to develop its platform and expand into fraud, collections, claims, and complex exceptions.
Agents for disputes and fraud
Casap’s platform deploys specialised AI agents that investigate cases, make decisions, and take action across the systems financial institutions already use. The agents apply each institution’s own policies, escalate to staff when a decision requires human judgement, and record the evidence and actions behind every decision so that outcomes can be explained and audited. In disputes, they cover the full process, from intake and investigation through decisioning, evidence collection, recovery, and customer communication, supported by teams that work directly with institutions to bring the agents into production.
Casap works with more than 100 banks, credit unions, fintechs, and processors. According to the company, its customers have seen first-party fraud losses fall by up to 51%, dispute resolution times drop from as long as 90 days to eight days, and human processing time per case fall from 45 minutes to one or two minutes, with 73% of cases resolved through automation under human oversight. Shanthi Shanmugam, CEO and Co-Founder of Casap, stated that the company started with disputes because they are among the hardest problems in financial services, and that customers are now asking it to apply the same approach across their operations.
Strategic backing from Experian and Synchrony
Adeyemi Ajao, Managing Partner at Base10 Partners, stated that financial institutions have long been told they must trade off operational economics against the quality of the customer experience. According to Ajao, Casap has shown that agentic AI can lower the cost of complex work while improving speed, quality, and consistency, and the opportunity extends well beyond disputes.
Experian and Casap plan to explore first-party fraud and consumer-intent signals, combining Casap’s insights into transaction behaviour with Experian’s identity and risk expertise to help the industry distinguish genuine fraud from first-party misuse as agentic commerce grows. Kelly Shaw, SVP at Synchrony Ventures, stated that, for a company serving more than 100 million Americans, handling disputes correctly is important, and that Casap’s agents help resolve them faster and more accurately while stopping first-party fraud, with service teams retaining oversight.
