AI isn’t just making fraud smarter – it’s making it nearly impossible to catch. With global losses hitting US$486bn annually, Bureau has announced US$30mn in Series B to level the playing field. A leading risk intelligence platform, which has seen its revenue grow 3x since it’s last fundraise, is arming businesses with AI to combat the exponential rise in sophisticated fraud attacks worldwide.
The funding will accelerate Bureau’s product expansion into new use-cases, and geographical expansion to several new markets worldwide to meet a significant surge in global demand.
For founder and CEO, Ranjan Reddy, the mission is personal. After falling victim to cyberfraud himself, he built Bureau to transform how businesses verify digital identities and detect fraud. Through his experience building Qubecell and Boku Identity, Reddy recognised that ‘Who are you?’ and ‘Can I trust you?’ are fundamental questions every digital company must answer at each step of the customer journey.
“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud,” explained Reddy. Money mule accounts, deepfake identities, account takeover and payment fraud have surged with sophisticated AI-powered tools, impacting every corner of the digital economy. Bureau’s proprietary technology, powered by Graph Neural Networks, neutralises these threats to the digital economy.
Traditionally, compliance, fraud, security and credit risks have been siloed in companies and served by multiple point solutions in each domain. Bureau’s platform brings together device intelligence, behavioural AI, identity data and predictive modelling to deliver contextual fraud prevention that goes beyond traditional rule-based systems. The company’s proprietary identity knowledge graph now contains over half a billion identities and behavioural patterns, providing real-time risk intelligence across the entire customer lifecycle.
“Bureau utilises a unique combination of device, behaviour, financial and partner data to quickly block scammers without creating deal-breaking headaches for users,” said Rob Rueckert, a Partner at Sorenson Capital. “By preventing fraud while avoiding any harm to customer retention, revenue and growth, Bureau is truly differentiated in the vast and significant fraud-prevention space and the proof is in their success.”