Data Sutram Raises $9M Series A to Expand Fraud Detection Globally

Data Sutram, a Mumbai-based B2B SaaS startup specializing in AI-driven fraud detection for the BFSI sector, has raised $9 million in a Series A funding round co-led by B Capital and Lightspeed. The funds will enable the company to expand its fraud detection platform into new sectors including cryptocurrency, real-time payments, gaming, e-commerce, and insurance, as well as support international expansion into the Middle East and Southeast Asia. Founded in 2018, Data Sutram uses its proprietary Trust Score technology to analyze millions of digital footprints to detect synthetic identities, identity theft, and collusion, helping financial institutions reduce non-performing assets and improve approval rates. With over 110 million identities screened so far, the platform provides real-time risk assessments by aggregating data from over 250 sources, including government and telecom databases. The company plans to also grow its team and product offerings beyond banking into high-risk industries, leveraging AI and alternative data for enhanced fraud detection and regulatory compliance. Investors highlighted the startup's innovative use of external intelligence and machine learning models that detect anomalies rather than relying on fixed fraud templates.