Sardine: The New Standard for Fraud Prevention
We’re privileged to work with operators who have been knee deep in their industries for decades – Sardine’s team is no exception with years of executive experience at top fintech companies like Coinbase, Revolut, Google Pay, Bolt, and PayPal. This made it a no-brainer to partner with CEO Soups Ranjan and his team at the earliest stages of company building alongside our good friends Dan Portillo and Anthony Kline over at Sweat Equity Ventures.
We’ve hypothesized this before, and we’ll hypothesize this again – every company ultimately will have to become some form of a fintech because of the economic shift to mobile-first products and digital banks, but it’ll be really hard. Any point of transaction creates friction between the company and their customers. The longer this takes, the more friction there is to do good business, build long-term trust, and increase chances of repeatability. As the fraud and compliance platform for all fintechs, Sardine’s approach to solve this is twofold: Not only do they enable instant bank ACH transfers through a real-time and AI-based fraud score, they also continuously monitor fraud end-to-end for all transactions.
Unsurprisingly, the Sardine platform has struck a chord with the broader fintech community, in particular crypto companies. Riddled with incredible fraud losses during money load events, the biggest players are now using Sardine to stop fraud and increase conversion. Some of their customers include fast growing crypto exchanges (Luno, and Bakkt) as well as global NFT and crypto platforms (Abra, Transak, MoonPay, and Candy Digital). By providing the industry’s most comprehensive fraud prevention in one API, this is the fastest and safest way to on-ramp crypto.
We take the view that every emerging market will fundamentally create analogues of traditional tools to grease the wheels of their newfound economies – crypto might be new but fraud isn't, which is exactly what places Sardine in such a value-add position for this exciting community.
That’s why we’re proud to announce that we’ve been capital partners and board members to Sardine from the very beginning as their lead in their seed financing and are thrilled to have participated in their $19.5 million in Series A funding led by our friend Angela Strange at Andreessen Horowitz. Sardine now powers over 50 customers, some of which we introduced ourselves ;) – if you are looking to financially secure and superpower your fintech, read more here: www.sardine.ai.
