Casap builds AI-powered automation for payment disputes and fraud operations, a category that has historically been manual, costly and slow. The platform targets first-party fraud, which now accounts for an estimated 30 to 50 percent of total fraud losses and is notoriously difficult for financial institutions to identify.
Casap's system automates the dispute lifecycle: ingesting cases, scoring first-party fraud risk, and applying AI decisioning to resolve disputes faster while reducing improper losses. The goal is to eliminate friction across the payments lifecycle for issuers, banks and fintechs.
Early results reported by customers such as Chartway FCU and MidSouth Community FCU include over a 51 percent reduction in fraud losses, positive ROI within weeks, and the ability to scale case volume without adding headcount.
Casap raised a $25 million Series A led by Emergence Capital, with participation from Lightspeed Venture Partners, Primary Venture Partners and SoFi, bringing total funding to $33.5 million. The company was founded by a team that includes former Facebook employees.