By PAUL O’DONOGHUE, Senior Correspondent
SARDINE, an AI-driven risk platform for fraud prevention, compliance, and credit underwriting, has raised $70 million in a Series C funding round.
Activant Capital led the round, which brings the company’s bringing its total funding to $145 million. Other investors included Andreessen Horowitz, Nyca Partners, Google Ventures, and Moody’s Analytics.
In a statement, Sardine said in 2024 revenues were up 130% year-over-year and the firm doubled its customer base. The company has profiled over 2.2 billion devices, creating one of the largest databases for detecting financial crime. Its clients include FIS, Ascensus, Deel, GoDaddy, and X.
“Risk teams are overwhelmed, with alert volumes surging 800% and compliance hiring unable to keep pace,” said CEO Soups Ranjan. “Our AI agents automate time-consuming tasks, reducing false positives and helping teams focus on real threats.”
Sardine is introducing AI-driven tools to streamline fraud and compliance workflows, including:
- KYC Onboarding Agent – Resolves name mismatches, inconsistent date formats, and document verification issues.
- Sanctions Screening Agent – Automates screening for sanctions, PEPs, and adverse media.
- Merchant Risk Agent – Assesses merchant risk in real time.
- Disputes Agent – Manages chargebacks and dispute resolution.
“We’re doubling down on Sardine because they’ve built what the market desperately needs: an AI-first risk platform,” said Andrew Steele, Partner at Activant Capital.
Moody’s Head of Banking Solutions Andrew Bockelman added, “The combination of Moody’s data with Sardine’s platform is a formidable tool in the fight against financial crime.”
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