Casap, an AI agent platform for financial services, has raised $56 million in Series B funding led by Base10 Partners, with strategic participation from Experian and Synchrony. Existing investors, including Emergence Capital and Lightspeed Venture Partners, also participated in the round.
The latest funding brings Casap’s total funding to $90 million, just over a year after its $25 million Series A round. During this period, the company has grown its revenue tenfold, exceeding its original growth target by more than two times.
Founded by Shanthi Shanmugam and Saisi Peters, Casap develops AI agents that help banks, credit unions, fintech companies and payment processors manage complex operations. Its platform automates tasks such as fraud investigations, transaction disputes, evidence collection, decision-making and customer communication.
“We started with disputes because it was one of the hardest problems in financial services,” said Shanthi Shanmugam, CEO and Co-Founder of Casap. “But our ambition was always bigger than disputes. We wanted to prove that AI could do more than make work more efficient. It could fundamentally change the outcomes for financial institutions. Today we’re cutting fraud losses in half while resolving disputes in days instead of months. Now our customers are asking us to bring that same transformation to the rest of their operations.”
“If all we get from the agentic era is the same outcomes happening faster, we’ve missed a huge opportunity. Our mission is to make outcomes that once seemed impossible the new standard for financial services,” added Shanmugam.
The company’s AI agents work across existing financial systems and follow each institution’s policies and controls. They also maintain records to support explainable and auditable decisions while escalating cases that require human judgment.
Casap reports working with more than 100 banks, credit unions, fintech companies, and processors. According to the company, its platform has reduced first-party fraud losses by up to 51%, achieved a 96% chargeback win rate compared with an industry average of 60%, and shortened dispute resolution times from as long as 90 days to eight days.
The company also says its AI agents resolve 73% of dispute cases through automation with human oversight, reducing human processing time from 45 minutes to between one and two minutes.
“We’ve been told for years that financial institutions will have to make a tradeoff between operational economics and experience quality,” said Adeyemi Ajao, Managing Partner at Base10 Partners. “Casap has shown that agentic AI technology can change that tradeoff. The same technology lowers the cost of complex work, while improving speed, quality, and consistency. Disputes proved that model in one of the hardest environments in financial services, and we believe the opportunity now is much larger.”
With the new funding, Casap plans to advance its AI platform and expand automation into additional financial services operations, including collections, claims, fraud management, and complex exceptions.
The round also strengthens Casap’s strategic relationships with Experian and Synchrony. Casap and Experian are exploring ways to combine transaction and fraud insights with identity and risk expertise to help distinguish genuine fraud from first-party misuse. Synchrony’s investment supports its focus on customer service and AI-driven transformation.
Casap aims to help financial institutions improve operational efficiency, reduce losses, and deliver better customer experiences by using AI agents to manage complex processes at scale.
