Latest news with #DataSutram
Entrepreneur
22-05-2025
- Business
- Entrepreneur
B2B SaaS Firm Data Sutram Raises USD 9 Mn Series A from B Capital and Lightspeed
The Mumbai-based startup will use the funds to expand its AI-driven fraud detection platform across new sectors and enter international markets in the Middle East and Southeast Asia. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Mumbai-based B2B SaaS startup Data Sutram has raised USD 9 million in a Series A funding round co-led by B Capital and Lightspeed. The funds will be deployed to expand the company's fraud detection and risk intelligence platform into sectors such as cryptocurrency, real-time payments, gaming, e-commerce, and insurance, while also strengthening AI capabilities and enabling international expansion into the Middle East and Southeast Asia. The round marks a significant milestone in Data Sutram's growth journey. The company had previously raised USD 3 million in September 2023, led by Singularity Growth Fund, and USD 2.07 million in February 2022 from Varanium Capital and Yatra Angel Network. Founded in 2018 by Rajit Bhattacharya, Ankit Das, and Aisik Paul, Data Sutram offers a RegTech-focused AI platform that helps financial institutions combat fraud, improve customer onboarding, and reduce risk across the lifecycle of lending, payments, and insurance. Its proprietary Trust Score analyses millions of digital footprints to detect synthetic identities, identity theft, and collusion, offering a 360-degree customer risk profile. The platform has already processed over 110 million individual identities, aiding leading banks, NBFCs, and fintechs in India in reducing NPAs and improving approval rates. "With this investment, we're entering the next phase of our mission to build a financial ecosystem based on trust," said Rajit Bhattacharya, Co-founder and CEO of Data Sutram. "Our goal is to ensure every transaction is secure. We believe our Trust Score will eventually underwrite every transaction. This funding enables us to enhance our product, expand globally, and serve more businesses seeking AI-driven risk intelligence." Karan Mohla, General Partner at B Capital, commented, "We view Data Sutram as a category-defining RegTech leader in India. Their ability to combine real-time analytics with external intelligence is reshaping fraud prevention and compliance." Hemant Mohapatra, Partner at Lightspeed, added, "In a digitised financial landscape, the need for intelligent, scalable fraud prevention is critical. Data Sutram's sector adaptability and compliance-first approach make them a strong partner for global financial services." With a growing demand for secure and intelligent fraud mitigation tools, Data Sutram is poised to redefine how institutions safeguard trust in digital transactions—both in India and beyond.
Time of India
22-05-2025
- Business
- Time of India
Fintech startup Data Sutram raises $9 million from B Capital, Lightspeed
Data Sutram , a fintech startup that enables financial institutions to curb fraud and ensure regulatory compliance , has raised $9 million through a mix of primary and secondary funding, founder and chief executive, Rajit Bhattacharya, told ET. The financing round was co-led by venture capital firms B Capital and Lightspeed . The Mumbai-based company will use the capital to expand its team, boost product capabilities and accelerate development of its artificial intelligence (AI)-driven platform, said Bhattacharya. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Data Sutram, which focuses on serving lenders and banks, will also use the new funding to support its expansion into other sectors such as cryptocurrency, real-time payments, gaming, ecommerce, quick commerce and insurance. 'I think over the last year, there has been a huge rise in fraud in the industry from a banking and financial perspective, driven by the digitisation wave and the increase in lending, digital transactions and digital account openings,' said Bhattacharya. Live Events 'So, we've been trying to build the concept of looking at identity as a whole and are working with some of the best banks in the country to implement it. It's been a learning cycle—from both a product maturity and company standpoint,' he said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Data Sutram, founded in 2018, uses AI and external data from over 250 sources to help businesses in lending, payments and insurance curb fraud and reduce cybersecurity risks . Its proprietary trust score analyses millions of digital footprints to identify fraud patterns such as identity theft, synthetic identities, and collusion. The platform is designed to reduce the creation of mule accounts, improve approval rates, and lower non-performing assets. According to its website, the company works with major financial institutions, including HDFC Bank , Axis Bank , IndusInd Bank , Union Bank of India , Piramal Finance and L&T Finance. In 2023, Data Sutram raised $3 million in a round led by Bharat Fund, with participation from Singularity Growth Fund, IIFL, YAN, White Venture, and other existing investors. 'The existing technologies or the existing ways to protect banking and intra-systems were not necessarily keeping up with the changes on the user side. Also, it's a slightly different way of looking at the challenge in India and other markets like India, compared to more developed markets where user behavior is different,' said Karan Mohla, general partner at B Capital. 'I think that was one of the things Rajit and the team built that was so attractive and continues to be attractive to us.'
Economic Times
22-05-2025
- Business
- Economic Times
Fintech startup Data Sutram raises $9 million from B Capital, Lightspeed
ETtech (L-R) Aisik Paul, Rajit Bhattacharya and Ankit Das, cofounders, Data Sutram Data Sutram, a fintech startup that enables financial institutions to curb fraud and ensure regulatory compliance, has raised $9 million through a mix of primary and secondary funding, founder and chief executive, Rajit Bhattacharya, told ET. The financing round was co-led by venture capital firms B Capital and Lightspeed. The Mumbai-based company will use the capital to expand its team, boost product capabilities and accelerate development of its artificial intelligence (AI)-driven platform, said Sutram, which focuses on serving lenders and banks, will also use the new funding to support its expansion into other sectors such as cryptocurrency, real-time payments, gaming, ecommerce, quick commerce and insurance. 'I think over the last year, there has been a huge rise in fraud in the industry from a banking and financial perspective, driven by the digitisation wave and the increase in lending, digital transactions and digital account openings,' said Bhattacharya. 'So, we've been trying to build the concept of looking at identity as a whole and are working with some of the best banks in the country to implement it. It's been a learning cycle—from both a product maturity and company standpoint,' he said. Data Sutram, founded in 2018, uses AI and external data from over 250 sources to help businesses in lending, payments and insurance curb fraud and reduce cybersecurity risks. Its proprietary trust score analyses millions of digital footprints to identify fraud patterns such as identity theft, synthetic identities, and platform is designed to reduce the creation of mule accounts, improve approval rates, and lower non-performing assets. According to its website, the company works with major financial institutions, including HDFC Bank, Axis Bank, IndusInd Bank, Union Bank of India, Piramal Finance and L&T Finance. In 2023, Data Sutram raised $3 million in a round led by Bharat Fund, with participation from Singularity Growth Fund, IIFL, YAN, White Venture, and other existing investors. 'The existing technologies or the existing ways to protect banking and intra-systems were not necessarily keeping up with the changes on the user side. Also, it's a slightly different way of looking at the challenge in India and other markets like India, compared to more developed markets where user behavior is different,' said Karan Mohla, general partner at B Capital. 'I think that was one of the things Rajit and the team built that was so attractive and continues to be attractive to us.'
