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Fraud prevention platform Bureau raises $30 Mn in Series B round

EntrackrEntrackr · 1y ago
Fraud prevention platform Bureau raises $30 Mn in Series B round
Medial

Risk intelligence platform Bureau has raised $30 million in Series B funding, led by Sorenson Capital. The round also witnessed participation from PayPal Ventures, along with existing investors including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures. The company had previously raised $20.7 million from its existing investors. The proceeds will be utilized to enhance its product portfolio, bolster talent acquisition, scale its go-to-market team, and expand its geographical reach to empower global financial ecosystems, Bureau said in a press release. Founded in 2020 by Ranjan R Reddy, Bureau is an AI-powered platform that delivers real-time, contextual fraud prevention across the entire customer lifecycle, going far beyond traditional rule-based systems. Its proprietary identity knowledge graph, with over half a billion identities and behavioral data, provides actionable risk intelligence and insights, serving global enterprises across banking, fintech, gaming, e-commerce, and consumer internet platforms. According to the Bengaluru-based company, its comprehensive solution suite includes advanced capabilities in money mule detection, account takeover, fraud ring detection, onboarding compliance, and decisioning workflows. Market research indicates that global fraud losses have surged past $5 trillion annually, a 56% increase in the past decade. The fraud prevention industry is projected to grow from $44 billion to $255 billion by 2032. Bureau enables organizations to navigate complex compliance requirements while providing a seamless experience for legitimate customers. It prevents fraud while safeguarding customer retention, revenue, and growth. It competes with IDfy, SpringVerify, AuthBridge, Digio and Perfios-owned Karza.

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation

EntrackrEntrackr · 19d ago
Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation
Medial

Exclusive: Wint Wealth to raise Series B at Rs 700 Cr valuation Wint Wealth is raising Rs 120 crore (approximately $13.3 million) in its Series B funding round led by Vertex Ventures. This marks the Bengaluru-based startup’s first major fundraise in over three and a half years. Wint Wealth’s board has passed a special resolution to issue 94,047 Series B compulsory convertible preference shares at an issue price of Rs 12,804 each to raise Rs 120 crore or $13.3 million, according to the filings sourced from the Registrar of Companies. Vertex Ventures will lead the round with an investment of Rs 77.52 crore, while Unitary Fund, Eight Roads Ventures, and 3one4 Capital will infuse Rs 18.7 crore, Rs 13 crore, and Rs 8.16 crore, respectively. Zerodha’s incubation arm, Rainmatter, will also participate in the Series B with a Rs 3 crore investment. As per filings, the company plans to utilise the proceeds towards capital expenditure, marketing, and general corporate purposes. Based on Entrackr’s estimates, the wealth management startup is raising fresh capital at a post-money valuation of around Rs 707 crore (nearly $80 million). The company may raise additional capital as part of the Series B round, which could lead to changes in its valuation and shareholding structure. Post this round, Vertex Ventures will hold a 10.96% stake in Wint Wealth, while 3one4 Capital, Unitary Fund, Rainmatter, and ERVI Technology, an arm of Eight Roads Ventures, will own 8.54%, 8.32%, 2.55%, and 1.84%, respectively, according to the filings. Wint Wealth is yet to file its FY25 numbers. In FY24, the company posted Rs 17.2 crore operating revenue with a loss of Rs 18 crore.

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