Fraud detection platform Sardine completes $51.5 million in Series B funding, with investments from Visa, ConsenSys and a16z

According to The Block, Sardine, a fraud detection platform, has completed a $51.5 million Series B round of financing. Investors include Visa, ConsenSys, a16z and ING Ventures, Cross River Digital, Eric Schmidt and Google Ventures. Sardine’s CEO and co-founder, Soups Ranjan, previously served as Coinbase’s head of venture and head of Revolut’s crypto division before launching Sardine in early 2020. According to Soups Ranjan, the company has more than 135 clients since its inception, including FTX, Blockchain.com, and Brave, among others. In February of this year, Sardine announced the completion of a US$19.5 million Series A financing, led by Andreessen Horowitz (a16z), NYCA, Experian Ventures and existing investors XYZ, SweatEquity Ventures, 11.2 Capital, Village Global and more than 30 angel investors participated. At the same time, Sardine announced the launch of the ACH transfer function, allowing customers to bypass the 3-7 day waiting period to access funds, Sardine pre-funds the cryptocurrency purchases of consumers in the wallet and takes on the fraud, regulation and compliance related to the waiting period risk. Sardine mainly provides two products, namely the application API and the payment platform. Among them, the application API allows companies to solve fraud and KYC checks when opening an account or when funds flow occurs, and the payment platform enables individuals to use bank transfers and bank cards to purchase cryptocurrencies. and NFTs. the