PayPal Ventures has announced an investment in Bureau.
Risk intelligence platform Bureau has reportedly seen 3x revenue growth as the surge in sophisticated fraud attacks drive “demand for AI-powered prevention.”
According to the update from PayPal Ventures, AI isn’t just making fraud smarter – it’s making it “nearly impossible to catch.”
PayPal Ventures also mentioned that with global losses hitting $486B annually, Bureau announced $30M in Series B to “level the playing field.”
A risk intelligence platform, which has seen its revenue grow 3x since it’s last fundraise, is arming businesses with AI to “combat the exponential rise in sophisticated fraud attacks worldwide.”
The investment round was reportedly led by the following: Sorenson Capital with participation from PayPal Ventures and continued support from Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures.
The funding will now aim to accelerate Bureau’s product expansion into new use-cases, and expansion to “several new markets worldwide to meet a significant surge in global demand.”
For founder and CEO Ranjan Reddy, the mission is “personal.”
After falling victim to cyber fraud himself, he built Bureau to “transform how businesses verify digital identities and detect fraud.”
Through his experience building Qubecell and Boku Identity, Reddy recognized that “Who are you?” and “Can I trust you?” are fundamental questions every digital company “must answer at each step of the customer journey.”
Ranjan Reddy, CEO and Founder.
“As cyberfraud reaches unprecedented levels, Bureau stands at the forefront of the fight against digital fraud.”
Money mule accounts, deepfake identities, account takeover, and payment fraud have surged with sophisticated AI-powered tools, “impacting every corner of the digital economy.”
Bureau’s technology, powered by Graph Neural Networks, “neutralizes these threats to the digital economy.”
Traditionally, compliance, fraud, security, and credit risks have been siloed in companies and “served by multiple point solutions in each domain.”
Bureau’s platform brings together device intelligence, behavioral AI, identity data, and predictive modeling to “deliver contextual fraud prevention that goes beyond traditional rule-based systems.”
The firm’s identity knowledge graph now “contains over half a billion identities and behavioral patterns, providing real-time risk intelligence across the entire customer lifecycle.”
What typically would require several vendor integrations, multiple data API outputs, and complex rule engines “can now be accomplished through one platform.”
Bureau’s capabilities reportedly span money mule detection, account takeover prevention, fraud ring detection, “onboarding compliance, and decisioning workflows.”
Unlike other solutions that act as data brokers, Bureau shares decisions rather than consumer data, with “tokenized identities built into its privacy architecture.”
The platform has proven valuable for banking, fintech, gaming, and e-commerce companies facing “sophisticated cyber threats and increasing regulatory pressures.”
Results demonstrate its impact across use cases – from detecting collusion in gaming platforms through behavioral AI, to “preventing synthetic identity fraud in neobanks, to enabling secure lending to new-to-credit customers through improved risk profiling.”
The funding will support key expansion initiatives: enhanced data and AI capabilities to “improve decision efficiency and coverage, and geographical expansion to serve more markets.”
Bureau’s focus has been on Asia, and this round will fuel its expansion to additional regions, enabling more businesses to “access its comprehensive fraud prevention capabilities.”