How much did Casap raise and who led the round?

Casap raised a $56 million Series B led by Base10 Partners, bringing total funding to $90 million since its 2023 launch.

What does Casap's AI do for banks?

Casap's AI helps banks and card companies handle disputes and chargebacks, with customers reporting reduced first-party fraud losses and faster resolution times.

What will Casap use the new funding for?

Casap intends to push into adjacent parts of bank and credit card companies' back offices, including handling customer complaints and collections services.

AI Business & IndustryFortune AI5m agoOct 28, 2026, 22:01 JST

Casap raises $56 million to fight first-party fraud

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3 Key Points

What happened
Casap announced a $56 million Series B led by Base10 Partners, bringing total funding to $90 million since its 2023 launch; Synchrony and Experian joined as strategic investors.
Why it matters
The funding gives Casap resources to expand beyond dispute handling into adjacent back-office work like customer complaints and collections, as banks face growing first-party fraud.

WHO IT HITSBanks and card issuers grappling with first-party fraud and dispute backlogs may get faster, cheaper resolution tools, while collections and complaints teams at financial institutions could see new automation options as Casap expands.

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Context & Analysis

Casap's raise comes as credit card fraud shifts from third-party scams to first-party claims, where cardholders themselves account for nearly a third of fraudulent transactions. This shift has been driven by AI tools that make it easier for people to dispute charges, and by social media groups that share tips for carrying out fraud under the guise of getting "free stuff."

Consumer protection laws protect people from third-party fraud but place a high burden on banks when rejecting dishonest claims. As a result, many financial institutions simply agree to resolve disputes in a customer's favor below a certain threshold, typically around $30. Casap says its AI tools have changed that calculation, with customers reducing first-party fraud losses by as much as 51% and boosting chargeback win rates to 96% compared to the 60% industry average.

The company also touts reducing dispute resolution time to 8 days on average, compared to traditional methods that can take as long as 90 days. With the new funding, Casap aims to expand beyond dispute handling into customer complaints and collections services, moving deeper into banks' back-office operations.

FAQ

How much did Casap raise and who led the round?: Casap raised a $56 million Series B led by Base10 Partners, bringing total funding to $90 million since its 2023 launch.
What does Casap's AI do for banks?: Casap's AI helps banks and card companies handle disputes and chargebacks, with customers reporting reduced first-party fraud losses and faster resolution times.
What will Casap use the new funding for?: Casap intends to push into adjacent parts of bank and credit card companies' back offices, including handling customer complaints and collections services.

Fortune AIRead Original Article

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