Sardine, an AI risk platform specializing in fraud prevention, compliance, and credit underwriting, has successfully secured $70 million in a Series C funding round led by Activant Capital.
Participating in this funding round were notable investors including Andreessen Horowitz, Nyca Partners, Google Ventures, Geodesic Capital, Cross Creek Capital, Moody’s Analytics, Experian Ventures, and NAventures, bringing Sardine’s total funding to $145 million.
Founded by veterans from Coinbase, Revolut, and PayPal, Sardine’s core AI platform leverages device intelligence, behavioral biometrics, and machine learning to combat fraud in real-time, enhance compliance processes, and consolidate data across risk teams.
The company has developed a range of intelligent agents for Know Your Customer (KYC) onboarding, sanctions screening, merchant risk assessment, and dispute management, which are designed to alleviate manual workload and reduce costs. Last year, Sardine reported a remarkable 130% year-on-year growth in annual recurring revenue (ARR) and nearly doubled its customer base to over 300 enterprises, including clients such as FIS, Ascensus, Deel, GoDaddy, and others.
Soups Ranjan, CEO of Sardine, remarked, “Risk teams are stretched to their limits, and the workload keeps growing. Alert volumes have surged 800%, compliance hiring can’t keep up, and analysts are stuck in an endless cycle of manual reviews. It’s not just about the scale; it’s the nature of the work. Clearing transaction alerts, verifying onboarding cases, and investigating fraud rings are all highly repetitive yet mission-critical tasks.
“Sardine’s AI agents automate the most time-consuming aspects of risk operations, enabling teams to operate more efficiently, reduce false positives, and concentrate on addressing real threats. This investment will allow us to scale our AI infrastructure, empowering risk teams to be more effective in fighting the modern challenges of financial crime.”