ICYMI: Resistant AI, which focuses on anti-fraud artificial intelligence tools for fintech companies, has raised a $16.6M Series A. The company aims to build out its footprint and expand its sales and engineering capacity.
- The company's AI is used in the areas of anti-money laundering optimization, BNPL, and to detect document forgery.
- Resistant AI has 30 clients, including KBC, Payoneer, Habito, Roger, and Twisto.
- According to the company, up to 1% of the transactions it inspects are fraudulent.
- The global cost of financial fraud is estimated to be $5.12T per year.