Casap, a startup specializing in AI-driven dispute and chargeback management, has secured $56 million in funding. The company focuses on addressing first-party fraud, where cardholders file false claims against their own banks. This type of fraud is estimated to cause $100 billion in annual losses across the financial sector, accounting for 30–50% of fraud losses at some institutions.
Founded in 2023 by former Robinhood and Chime employees Shanthi Shanmugam and Saisi Peter, Casap provides an agentic AI platform that automates up to 80% of payment disputes. The system can reduce resolution times to between 5 and 27 days. A case study with Chartway Federal Credit Union showed a reduction in resolution time from three months to 12 days, alongside a 90% drop in per-claim costs.
The company currently serves approximately 45 financial institutions and reported 642% year-over-year growth by mid-2026. Prior to the latest $56 million round, Casap raised $8.5 million in a seed round in October 2024 and $25 million in a Series A round in August 2025. These funding milestones reflect growing investor interest in AI-powered infrastructure for traditional banking operations.
