Casap Secures $56 Million Series B Funding to Scale Agentic AI Solutions for Financial Services Operations

The landscape of financial services operations is undergoing a profound structural evolution, driven largely by the rapid maturation of artificial intelligence. In a milestone development for the sector, Casap, a specialized AI agent platform built for financial institutions, announced a $56 million Series B funding round. The latest injection of capital brings the California-based company’s total institutional fundraising to $90 million, arriving just over a year after its $25 million Series A raise.

The financing round was led by Base10 Partners, a prominent venture capital firm known for backing transformative technology companies. Strategic participation also came from industry giants Experian and Synchrony, alongside continued support from existing investors Emergence Capital and Lightspeed Venture Partners. The high-profile backing from both traditional fintech investors and established financial services infrastructure players underscores a growing consensus that agentic AI is moving past speculative hype and entering widespread enterprise deployment.

Casap plans to deploy the new capital to accelerate the development and deployment of its comprehensive AI platform. By combining advanced AI agents with deep industry expertise and forward-deployed engineering teams, the company aims to modernize and streamline some of the most friction-heavy workflows in banking and financial technology, ranging from fraud detection and payment disputes to complex collections, insurance claims, and operational exceptions.

The Genesis and Rapid Scaling of Casap

Founded in 2023 by fintech veterans Shanthi Shanmugam—formerly an executive at Robinhood—and Saisi Peters—formerly an executive at Chime—Casap was born out of a firsthand recognition of the operational bottlenecks plaguing modern financial institutions. Shanmugam and Peters observed that while front-end consumer experiences in banking had become sleek and instantaneous, the back-end infrastructure supporting dispute resolution, fraud investigations, and exception handling remained heavily manual, sluggish, and costly.

To solve this, the founders engineered a platform that leverages specialized AI agents capable of investigating complex financial cases, making autonomous, policy-compliant decisions, and executing necessary actions directly across an institution’s legacy core systems. Unlike traditional robotic process automation (RPA) tools that merely mimic simple keystrokes or follow rigid, hard-coded rules, Casap’s agents operate with a contextual understanding of institutional policies. They maintain meticulous, auditable logs of every decision made and seamlessly escalate edge cases that require human intervention or complex judgment.

The market response to this capability has been remarkably swift. Over the past twelve months alone, Casap has scaled its revenue tenfold, more than doubling its internal growth targets. The company currently partners with more than 100 financial institutions, helping them navigate mounting regulatory pressures, surging fraud volumes, and rising customer expectations for rapid resolution times. Furthermore, the company’s industry footprint was highlighted when it captured Best of Show honors for its live demonstration at FinovateFall 2025.

Addressing the Industry’s Toughest Pain Points

Financial institutions have historically struggled with a zero-sum compromise between operational efficiency and customer experience quality. Traditional dispute and fraud resolution processes often require weeks or months of manual review, leading to inflated operational overhead, high error rates, and frustrated cardholders or account holders.

Casap strategically chose to target these complex domains first. According to company leadership, tackling payment disputes provided the ultimate proving ground for their agentic AI architecture.

"We started with disputes because it was one of the hardest problems in financial services," said Shanthi Shanmugam, CEO and Co-founder of Casap. "But our ambition was always bigger than disputes. We wanted to prove that AI could do more than make work more efficient. It could fundamentally change the outcomes for financial institutions. Today we’re cutting fraud losses in half while resolving disputes in days instead of months. Now our customers are asking us to bring that same transformation to the rest of their operations."

By deploying Casap’s intelligent agents, client institutions have reported profound operational shifts. The platform has demonstrated the ability to slash fraud-related financial losses by up to 50 percent while compressing dispute resolution lifecycles from weeks or months down to mere days. This dramatic reduction in handling time not only lowers back-office operating costs but also significantly elevates customer retention and satisfaction scores during what is typically a high-stress consumer touchpoint.

Strategic Perspectives from Investors

The participation of heavyweight strategic investors in the Series B round signals that traditional financial institutions and credit bureaus are eager to integrate next-generation automation into their core operations. Base10 Partners, which led the financing, views Casap as a prime example of how modern software can eliminate historical industry trade-offs.

"We’ve been told for years that financial institutions will have to make a tradeoff between operational economics and experience quality," noted Adeyemi Ajao, Managing Partner at Base10 Partners. "Casap has shown that agentic AI technology can change that tradeoff. The same technology lowers the cost of complex work, while improving speed, quality, and consistency. Disputes proved that model in one of the hardest environments in financial services, and we believe the opportunity now is much larger."

The inclusion of Experian and Synchrony in the round further validates the platform’s enterprise-grade readiness. As data integrity, regulatory compliance, and risk management remain paramount in financial services, having validation from major credit and lending ecosystems provides institutional buyers with heightened confidence regarding security, scalability, and regulatory alignment.

Chronology of Growth and Expansion

• Early 2023: Casap is founded by former Robinhood executive Shanthi Shanmugam and former Chime executive Saisi Peters to address complex financial operations.
• Late 2024 / Early 2025: The company closes its $25 million Series A funding round, validating its initial product-market fit centered around fraud detection and payment disputes.
• Fall 2025: Casap wins Best of Show honors at FinovateFall 2025, showcasing its advanced agentic AI capabilities to a broader audience of banking and fintech executives.
• Throughout 2025–2026: Casap scales rapidly, expanding its client base to over 100 financial institutions and achieving a tenfold increase in annual revenue, more than doubling original business forecasts.
• October 2026: Casap announces a $56 million Series B funding round led by Base10 Partners, with participation from Experian, Synchrony, Emergence Capital, and Lightspeed Venture Partners, bringing total funding to $90 million.

Broader Implications for the Financial Sector

The rapid funding and commercial traction of platforms like Casap point toward a broader structural shift within the global financial services industry. For decades, automation in banking meant deploying basic software scripts, rule-based alerts, or offshore customer support centers to manage high-volume, low-complexity tasks. Complex workflows—such as analyzing multi-party payment disputes, investigating sophisticated synthetic identity fraud, or processing intricate insurance claims—remained stubbornly reliant on human workforces.

Agentic AI represents a distinct paradigm shift. By functioning as autonomous digital workers capable of reasoning, utilizing tools, and executing decisions within strict policy guardrails, these systems move organizations beyond mere task assistance. They offer a blueprint for end-to-end workflow execution.

As Casap broadens its operational footprint beyond fraud and disputes into claims management, collections, and complex exception processing, its trajectory serves as a bellwether for the entire banking technology sector. If financial institutions can successfully deploy autonomous agents to handle complex regulatory and operational workflows safely, the economics of running a modern bank, credit union, or fintech platform could experience permanent, structural deflation in back-office expenses. At the same time, consumers can expect a future where financial friction is resolved almost instantaneously, redefining the standard for modern banking experiences.