Fraud compliance fintech Sardine raises USD 19.5 mln

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.