Mumbai-based fraud prevention software platform RaptorX has managed to close the pre-seed round worth Rs 4 crore. PeakXV Spark, EagleWings Ventures, and Point One Capital co-led the round, with participation from a list of notable figures who included Peyush Bansal, co-founder of Lenskart, and Aman Gupta, co-founder and CMO of Boat. This money is in addition to $120,000 that had previously been raised as part of this round.
PC: CXO Today
Founded in 2023 by Pratyusha Vemuri, RaptorX operates at the intersection of fintech, regtech, e-commerce, and artificial intelligence. The platform aims to tackle pressing challenges in fraud prevention, anti-money laundering (AML), and customer risk intelligence. With the increasing sophistication of fraudulent activities in various sectors, RaptorX is positioned to provide predictive and real-time fraud detection capabilities that can reveal hidden relationships and enable businesses to act proactively to mitigate risks.
The new capital will be channeled into improving the company’s AI and machine learning capabilities, which are essential for developing robust applications in both the banking and e-commerce sectors. RaptorX is looking to grow its team and improve integrations with payment gateways, e-commerce platforms, and banking systems, so that its solutions can be deployed effectively in real-world scenarios.
The company is ambitious enough in the creation of scalable infrastructure for real-time transaction monitoring and prevention of e-commerce fraud. In addition, it intends to release dedicated AML modules with the focus on screening and mule detection for payment, further entrenching its commitment to compliance and operational efficiency. Market research projects the global fraud detection and AML market to grow past $129 billion by 2030, thus evidencing the increasing demand for solutions that work effectively in the field.
The strategic roadmap set out for RaptorX focuses on over Rs 200 crore annual revenue, more focused on the growth in the upcoming years in annual recurring revenue (ARR). RaptorX is expecting its customers to reach over 50 enterprise clients, handling over 1 billion monthly transactions. These are ambitious targets as such growth trajectories reveal increasing demand for fraud prevention and compliance solutions in the present-day digital economy.
RaptorX is entering a competitive landscape, where it may face direct and indirect competition from established players such as Clarify, Karza Technologies, and Unit21.ai. However, the company’s unique approach, leveraging advanced AI technologies, positions it favorably to carve out a significant share of the market.
The funding success and strategic objectives of RaptorX underscore the vital need for innovative solutions in fraud prevention and risk management, especially for businesses in the face of evolving threats in a fast-changing digital environment. This is where RaptorX finds its niche in real-time detection and compliance, aiming to empower businesses to protect operations against fraud while maintaining a high standard of regulatory compliance.
As the startup further develops its offering, the support of such influential investors and partners will be really important for its growth trajectory. A clear vision combined with a solid funding foundation allows RaptorX to create significant traction in the fintech and regtech sector, contributing to a safer digital marketplace.
