Bureau secures $30 m in Series B funding to combat growing cyber fraud

Bureau, a leading risk intelligence platform focused on digital fraud prevention, said it has raised $30 million in Series B funding led by Sorenson Capital, with participation from PayPal Ventures. The funding round also saw continued support from existing investors, including Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.

 

With plans to tackle this growing pandemic head-on, Bureau will utilise the raised capital to enhance its product portfolio and ramp up talent acquisition. The funding will also help the company scale up its go-to-market team and expand its geographical reach to empower global financial ecosystems in the fight against fraud.

 

“As cyber fraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud. The investment from Sorenson Capital and PayPal Ventures validates our revolutionary approach to fraud prevention and accelerates our mission to protect businesses and consumers worldwide,” said Ranjan R Reddy, founder and chief executive officer, Bureau.

 

Founded in 2020 by Reddy, a seasoned entrepreneur, Bureau's AI-powered platform delivers real-time, contextual fraud prevention across the entire customer lifecycle, going far beyond traditional rule-based systems. Its proprietary identity knowledge graph, with over half a billion identities and behavioural data, provides actionable risk intelligence and insights. It serves global enterprises across banking, fintech, gaming, e-commerce, and consumer internet platforms. Bureau's comprehensive solution suite includes advanced capabilities in money mule detection, account takeover prevention, fraud ring detection, onboarding compliance, and decision workflows.

 

With global fraud losses surging past $5 trillion annually—a staggering 56 per cent increase in the past decade—the demand for advanced fraud prevention has never been more critical. The industry is projected to grow from $44 billion to $255 billion by 2032, underlining the massive market opportunity ahead. In India alone, the fraud prevention market is estimated at $7.3 billion, driven by a growing rise in money mule fraud, Unified Payments Interface (UPI) payments fraud, and other identity theft-based scams.

 

“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.”

 

The company said its solutions have proven particularly valuable in the current digital landscape, where businesses across various sectors face increasing regulatory pressures and sophisticated cyber threats. The company’s platform enables organisations to navigate complex compliance requirements while providing a seamless experience for legitimate customers.

 

The firm said the platform's innovations have earned Bureau recognition as a top global leader in fraud prevention by the advisory firm Liminal.

 

Bureau’s solutions span customer onboarding, account monitoring, device intelligence, behavioural biometrics, and transaction monitoring.