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HomeNewsInscribe raises $25 million to tackle financial fraud with AI  

Inscribe raises $25 million to tackle financial fraud with AI  

The infusion brings the startup’s total raised funds to date to $38 million, inclusive of a $10.5 million Series A round closed in April 2021.

Inscribe has raised $25 million in a Series B funding round led by Threshold Ventures with participation from Foundry, Uncork Capital, Intercom co-founder Des Traynor, Box co-founder Dillon Smith, and Crosslink Capital. 

The infusion has brought the startup’s total raised funds to $38 million, including a $10.5 million Series A round that was closed in April 2021.

Inscribe is an AI-powered document fraud detection service created for fraud, risk, and operations teams in the finance and fintech industries. Inscribe uses AI trained on hundreds of millions of data points to provide results.

Read More: Bengaluru University Bans Use Of ChatGPT On Campus 

Inscribe processes, classifies, and data-matches financial onboarding documents, highlighting any dissimilarities between the documents provided and documents recovered using its AI-powered fraud detection. 

Document details, including names, bank statement transactions, and addresses, are automatically digitized to generate individual customer risk profiles that contain snapshots of bank statements and transactions.

Ronan Burke says that Inscribe solves the issue of hiring a large data science team or having to create an in-house fraud detection solution.

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Sahil Pawar
Sahil Pawar
I am a graduate with a bachelor's degree in statistics, mathematics, and physics. I have been working as a content writer for almost 3 years and have written for a plethora of domains. Besides, I have a vested interest in fashion and music.

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