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Casap raised $56 million in a Series B round led by Base10 Partners, Fortune reported on October 28. Synchrony and Experian joined as strategic investors. The company has raised $90 million since it launched in 2023.
Casap uses AI to handle card disputes and to catch first-party fraud, where a customer disputes a charge they made. The company says customers have cut first-party fraud losses by up to 51% and win 96% of chargebacks, against an industry average of 60%. “When you look at the rules that govern these disputes, they are written in a way that almost assumes that no one lies,” CEO Shanthi Shanmugam said.
Dispute handling sits under Regulation E and Regulation Z timelines. An AI vendor in that workflow touches consumer protection as well as fraud.
- If you evaluate an AI dispute vendor, test its decisions against Regulation E and Regulation Z error-resolution rules before you test its fraud results.
- Treat vendor-reported loss reductions as claims to verify on your own data during a pilot.
This is for information only and is not legal or investment advice. Performance figures are the company’s own.