Fraud deterrence Startup 'RaptorX' raises Rs.4 crore in Pre-seed round
In a pre-seed fundraising round led by PeakXV Spark, EagleWings Ventures, and Point One Capital, fraud protection software platform RaptorX has raised Rs. 4 crore. Peyush Bansal, Boat Co-founder & CMO Aman Gupta, and key angels (SVPs) from Google also participated.
In the same round, the startup had already raised $120,000.
The additional funding will be used to grow the team, strengthen connections with payment gateways, e-commerce platforms, and banking systems, and develop and improve its AI and machine learning capabilities for applications in both banking and e-commerce.
RaptorX, which was founded in 2023 by Pratyusha Vemuri, is a fintech, regtech, e-commerce, and artificial intelligence company that specialize in fraud prevention, anti-money laundering (AML), and client risk intelligence. By offering predictive and real-time fraud detection, uncovering hidden relationships, and empowering companies to take proactive measures while maintaining compliance and operational efficiency, the platform seeks to address issues.
The Mumbai-based business wants to provide scalable infrastructure for e-commerce fraud prevention and real-time transaction monitoring. Additionally, it plans to introduce specialized Anti-Money Laundering (AML) modules for mule detection and payment screening.
Market study projects that by 2030, the global market for AML and fraud detection would have grown to a value of over $129 billion.
With an emphasis on ARR growth over the coming years, RaptorX asserts that it has already implemented strategic levers to help scale to more than Rs. 200 crore in yearly revenue. It intends to handle more than 1 billion transactions each month and grow to more than 50 large clients.
Speaking to this, Pratyusha Vemuri, CEO of RaptorX says, “This funding allows us to advance RaptorX’s team and capabilities to help businesses uncover unknown fraud patterns, minimize losses, and create trust with their customers. Our mission is to provide a proactive, AI-driven fraud prevention platform that transforms how industries manage risk”.
Similarly, Peyush Bansal, Founder and CEO of Lenskart says, “Just over the last eight months, RaptorX has not only built out an innovative solution, but also has successfully completed POCs for pilot customers in banking and e-commerce. It has built a robust AI framework capable of detecting fraud rings, layered laundering, and collusion networks and has gained significant traction with a strong pipeline of key customers”.
In the same round, the startup had already raised $120,000.
The additional funding will be used to grow the team, strengthen connections with payment gateways, e-commerce platforms, and banking systems, and develop and improve its AI and machine learning capabilities for applications in both banking and e-commerce.
RaptorX, which was founded in 2023 by Pratyusha Vemuri, is a fintech, regtech, e-commerce, and artificial intelligence company that specialize in fraud prevention, anti-money laundering (AML), and client risk intelligence. By offering predictive and real-time fraud detection, uncovering hidden relationships, and empowering companies to take proactive measures while maintaining compliance and operational efficiency, the platform seeks to address issues.
The Mumbai-based business wants to provide scalable infrastructure for e-commerce fraud prevention and real-time transaction monitoring. Additionally, it plans to introduce specialized Anti-Money Laundering (AML) modules for mule detection and payment screening.
Market study projects that by 2030, the global market for AML and fraud detection would have grown to a value of over $129 billion.
With an emphasis on ARR growth over the coming years, RaptorX asserts that it has already implemented strategic levers to help scale to more than Rs. 200 crore in yearly revenue. It intends to handle more than 1 billion transactions each month and grow to more than 50 large clients.
Speaking to this, Pratyusha Vemuri, CEO of RaptorX says, “This funding allows us to advance RaptorX’s team and capabilities to help businesses uncover unknown fraud patterns, minimize losses, and create trust with their customers. Our mission is to provide a proactive, AI-driven fraud prevention platform that transforms how industries manage risk”.
Similarly, Peyush Bansal, Founder and CEO of Lenskart says, “Just over the last eight months, RaptorX has not only built out an innovative solution, but also has successfully completed POCs for pilot customers in banking and e-commerce. It has built a robust AI framework capable of detecting fraud rings, layered laundering, and collusion networks and has gained significant traction with a strong pipeline of key customers”.
.jpg "Innovating Legal Solutions to Safeguard your Business")
