RaptorX, a Mumbai-based fraud prevention software platform, has successfully raised Rs 4 crore in a pre-seed funding round. The round was co-led by PeakXV Spark, EagleWings Ventures, and Point One Capital, with participation from prominent figures including Peyush Bansal, Boat Co-founder & CMO Aman Gupta, and senior executives from Google.
This new infusion of capital follows an earlier $120K investment in the same round. The funds will be used to bolster RaptorX’s AI and machine learning capabilities, particularly for applications in banking and e-commerce. Additionally, the company plans to scale its team, improve integrations with payment gateways, e-commerce platforms, and banking systems.
Targeting Fraud Prevention Across Industries
Launched in 2023 by Pratyusha Vemuri, RaptorX operates at the crossroads of fintech, regtech, e-commerce, and AI. The platform’s main focus is on preventing fraud, anti-money laundering (AML), and customer risk intelligence. By leveraging predictive and real-time fraud detection technologies, RaptorX helps businesses uncover hidden relationships and proactively act to prevent fraudulent activities—all while ensuring regulatory compliance and operational efficiency.
One of the core features of RaptorX is its ability to offer real-time transaction monitoring and fraud prevention tailored to e-commerce platforms. The company also plans to introduce dedicated AML modules for payment screening and mule detection, adding another layer of security to its offerings.
AI-Powered Fraud Detection for E-Commerce and Banking
With the rise of online transactions and digital financial services, fraud prevention has become a critical concern for businesses worldwide. RaptorX is positioning itself as a key player in addressing this challenge by using AI to enhance fraud detection and anti-money laundering efforts.
The global market for fraud detection and AML solutions is expected to exceed $129 billion by 2030, reflecting the growing demand for these services. RaptorX aims to tap into this booming market by providing scalable infrastructure that can handle over 1 billion monthly transactions and expand to more than 50 enterprise customers. The company is targeting annual revenues in excess of Rs 200 crore, with a strong focus on growing its annual recurring revenue (ARR) in the coming years.
Competing in a Crowded Market
While RaptorX is still in its early stages, it faces competition from established players in the fraud detection and AML space. Companies like Clarify, Karza Technologies, and Unit21.ai offer similar services. However, RaptorX’s emphasis on real-time fraud detection and its ability to tailor solutions for both banking and e-commerce platforms could give it a competitive edge in the rapidly growing market for fraud prevention solutions.
With its recent funding round, RaptorX is well-positioned to scale its operations and continue innovating in the field of fraud detection and anti-money laundering. As digital financial services expand, the demand for robust fraud prevention solutions will only continue to rise, providing ample opportunities for RaptorX to grow and establish itself as a leader in the space.
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