Inscribe bags $25M to fight financial fraud with AI | TechCrunch

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Abstraction: Inscribe raises $25M Series B for AI-powered financial document fraud detection

Key points:

Founded by Conor and Ronan Burke after Conor experienced manual document-review fraud blind spots at an Irish bank; platform trained on hundreds of millions of data points
Parses, classifies, and data-matches financial onboarding documents (bank statements, pay stubs, IDs); highlights discrepancies and generates individual customer risk profiles in seconds
Key differentiation: proprietary dataset built through customer partnerships from day one, solving the "cold start problem" that killed competitors who built models before getting data
Core philosophy: "automation without fraud detection is reckless"—credit analysis and fraud detection must be bundled, not separated
Average US fintech loses $51M/year to fraud; Inscribe clients include TripActions, Ramp, Bluevine, and Shift
$25M Series B led by Threshold Ventures brings total raised to $38M; company plans to double from 50 to ~100 employees within 18 months

Connections: Inscribe · Fraud Detection · Fintech · Machine Learning · Document Automation