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Sardine raises $51.5m in Series B Led by Andreessen Horowitz

Sardine, a provider of fraud, compliance, and instant settlement solutions, has secured $51.5 million in a Series B financing led by Andreesen Horowitz’s growth fund, to accelerate product development as well as marketing and sales across the globe.

New and existing investors, including XYZ, Nyca Partners, Sound Ventures, Activant Capital, Visa, Google Ventures, Eric Schmidt, Vikram Pandit, The General Partnership, NAventures, ING Ventures, ConsenSys, Cross River Digital Ventures, Alloy Labs, and Uniswap Labs Ventures, also participated in the round.

Sardine’s real-time fraud prevention products help customers reduce more fraud with fewer false positives, leading to faster user growth and higher authorisation rates. Sardine combines traditional financial data sets, like bank account history, with identity, behaviour and device intelligence to significantly enhance their customers’ risk capabilities. Sardine also offers KYC, AML, sanctions, and transaction monitoring to reduce fraud during account opening, account funding, and ongoing transactions. These added features are essential now as payment fraud in fintech ballooned 70% in 2021.

Leveraging its industry-leading fraud and compliance platform, Sardine is changing how companies can move money through its Instant Settlement offering. Sardine offers an instant ACH and card on-ramp to crypto, enabling its fintech and crypto customers to instantly purchase over 30 different crypto assets or NFTs. Sardine recently launched their direct fiat to NFT checkout product and their first partner was Autograph for their Tom Brady’s Signature Experience NFT launch.

Sardine is led by industry experts who have scaled fraud, compliance, and payments infrastructure across companies like Coinbase, Revolut, Uber, PayPal & Zelle. 

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