Casap raises $56 million to take its banking AI beyond payment disputes

Casap has secured $56 million to bring AI agents into more of the work banks do after a customer disputes a payment. The Series B, announced October 28, 2026, was led by Base10 Partners, with Experian and Synchrony joining as strategic investors. The funding backs a push beyond disputes into collections and other financial operations.

The round brings Casap’s total funding to $90 million, following a $25 million Series A just over a year earlier. Existing investors Emergence Capital and Lightspeed Venture Partners also participated. Casap says revenue grew tenfold over the past year and that it serves more than 100 banks, credit unions, financial technology companies and payment processors.

Why small disputes go unchallenged

Casap’s starting problem is the cost of investigating a claim. Fortune reported that many financial institutions resolve low-value disputes in the customer’s favor rather than spend money examining them. The cutoff is typically around $30, though CEO and co-founder Shanthi Shanmugam said it can be much higher when an investigation takes too much time and effort.

That calculation becomes especially important with first-party fraud: dishonest claims made by cardholders themselves, rather than by someone stealing their card details. Shanmugam argues that dispute rules put a heavy burden on institutions trying to reject those claims. Casap’s pitch is to make the investigation less expensive, not simply to help staff write a faster response.

The company describes agents that handle intake, investigate transactions, gather evidence, make decisions, pursue recovery and communicate with consumers. They work across a financial institution’s existing systems and apply its own policies. Casap says the agents keep evidence and records of their actions, and bring in people when a decision needs human judgment.

Faster decisions, measured on different clocks

Staff processing time is distinct from how long a customer waits for an outcome. Shanmugam told Fortune that disputes take eight days on average with Casap, compared with traditional methods that can take as long as 90 days. That comparison pairs an average with a maximum, rather than two averages. Casap also says agents resolve 73% of dispute cases through automation with human oversight.

The company reports reductions in first-party fraud losses of up to 51% and a 96% chargeback win rate, against what it describes as a 60% industry average. Those figures are company-supplied performance claims. Casap does not disclose its full set of fraud indicators; Shanmugam said they include a card’s physical location and spending patterns.

Collections, claims and consumer intent

The financing supports a wider remit, rather than a newly launched standalone product. Casap says it is bringing its platform into collections, claims and complex exceptions. Fortune also reported plans to use the funding for customer-complaint handling. The company pairs its software with financial-services specialists and teams that work directly with institutions to redesign operations and put agents into use.

The strategic investors bring specific interests to the round, according to Casap’s announcement:

• Experian is exploring ways to combine Casap’s transaction and fraud insights with its identity and risk expertise. The stated goal is to better distinguish genuine fraud from first-party misuse; this remains an exploration, not an announced finished service.
• Synchrony frames its investment around customer service and the use of AI agents in operations. Synchrony Ventures executive Kelly Shaw said Casap helps resolve disputes faster and more accurately while keeping service teams involved.