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Fraud prevention software platform RaptorX raises pre-seed round

Entrackr · 20d

Fraud prevention software platform RaptorX has raised Rs 4 crore in a pre-seed funding round co-led by PeakXV Spark, EagleWings Ventures, and Point One Capital, along with participation from Peyush Bansal, Boat Co-founder & CMO Aman Gupta, and key angels (SVPs) from Google. The company had previously raised $120K in the same round. The fresh funds will be utilized to build and enhance its AI and machine learning capabilities for applications in both banking and e-commerce, expand the team, improve integrations with payment gateways, e-commerce platforms, and banking systems. Launched in 2023 by Pratyusha Vemuri, RaptorX operates at the intersection of fintech, regtech, e-commerce, and artificial intelligence, focusing on fraud prevention, anti-money laundering (AML), and customer risk intelligence. The platform aims to address challenges by providing predictive and real-time fraud detection, revealing hidden relationships, and enabling businesses to act proactively while ensuring compliance and operational efficiency. The Mumbai-based company aspires to develop scalable infrastructure for real-time transaction monitoring and e-commerce fraud prevention. It also intends to launch dedicated Anti-Money Laundering (AML) modules for payment screening and mule detection. According to market research, the global fraud detection and AML market is expected to surpass $129 billion by 2030. RaptorX claims that it has already put in place strategic levers to help scale to more than Rs 200 crore in annual revenue, with a focus on ARR growth over the next few years. It plans to expand to over 50 enterprise customers, handling over 1 billion monthly transactions. It may compete directly or indirectly with other companies in this space, such as Clarify, Karza Technologies, Unit21.ai, amongst others.