Casap raises $56m to scale AI agents for disputes and fraud management

By Divya Shah

Why it matters: The funding highlights rising adoption of AI agents in financial services, helping institutions automate disputes, fraud management and operational workflows while reducing costs and improving efficiency.

Casap, a US-based financial dispute automation platform, has raised $56 million in a Series B funding round, bringing its total funding to $90 million. 

Casap provides a suite of AI agents that automate chargeback management and help financial institutions address first-party fraud. 

 The company’s AI-powered platform currently supports the entire payments dispute lifecycle, including decision-making, evidence collection, case intake, investigations, recovery processes and customer communications. 

The Series B round was led by Base10 Partners and included participation from new investors Experian and Synchrony, alongside existing backers Emergence Capital and Lightspeed Venture Partners. The latter two firms also participated in Casap’s $25 million Series A funding round last year. 

Since that funding round, Casap said it has achieved tenfold revenue growth and expanded its customer base to more than 100 banks, credit unions, FinTechs and payment processors. 

Casap’s CEO Shanthi Shanmugam said, “We started with disputes because it was one of the hardest problems in financial services… But our ambition was always bigger than disputes. We wanted to prove that AI could do more than make work more efficient.” 

The company plans to use the new funding to accelerate product development and expand its platform into additional areas of financial operations. Future focus areas include fraud management, claims processing, collections and other complex operational workflows. 

Casap said it aims to build AI-driven solutions capable of handling a broader range of high-value financial processes, helping institutions improve efficiency and reduce manual workloads. 

 As part of this expansion strategy, co-founder Saisi Peter said the company is investing further in engineering talent and hiring additional AI specialists to support product development. 

The latest funding round reflects growing investor interest in AI-powered financial operations platforms as banks, FinTechs and payment providers seek to automate increasingly complex processes while improving customer outcomes and operational efficiency.