Data Sutram Secures $9 Million Series A Funding to Expand AI-Driven Fraud Detection Platform

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Mumbai-based fintech startup Data Sutram has raised $9 million in a Series A funding round co-led by B Capital and Lightspeed Venture Partners. The funding, a mix of primary and secondary investments, aims to bolster the company’s AI-powered platform that assists financial institutions in fraud prevention and regulatory compliance.

With this capital infusion, Data Sutram plans to enhance its technological capabilities, expand its team, and venture into new sectors and international markets

Diversifying into Emerging Sectors

Founded in 2018 by Rajit Bhattacharya, Ankit Das, and Aisik Paul, Data Sutram specializes in providing alternative data analytics to financial institutions. The startup’s platform leverages AI to process vast amounts of data, enabling banks and NBFCs to assess creditworthiness, especially for new-to-credit customers. With the recent funding, Data Sutram intends to diversify its services into sectors such as cryptocurrency, real-time payments, gaming, e-commerce, and insurance.

This strategic move aims to address the growing demand for robust fraud detection and risk assessment tools across various industries.

Global Expansion and Technological Advancement

The fresh capital will also facilitate Data Sutram’s expansion into international markets, particularly in Southeast Asia and Africa. These regions present significant opportunities due to the increasing adoption of digital financial services and the corresponding need for advanced fraud prevention mechanisms.

Additionally, the company plans to invest in enhancing its AI capabilities, focusing on improving its proprietary Trust Score system, which aids financial institutions in making real-time, risk-adjusted decisions.

With the successful closure of its Series A funding round, Data Sutram is poised to strengthen its position in the fintech landscape by expanding its AI-driven fraud detection platform and entering new markets.

The company’s focus on leveraging alternative data and AI technology aligns with the growing need for innovative solutions in fraud prevention and regulatory compliance across various sectors and geographies.