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The funding round of the crypto project in the security segment Sardine has successfully raised USD 51.5 million led by the famous investment fund a16z.
Sardine and the fundraising round of more than 50 million USD
On September 20, venture capital fund Andreessen Horowitz (a16z) led the funding round Series B $51.5 million for Sardine, a product that helps prevent fraud and speed up transactions for payment platforms and Web 3.
Alex Immerman – Representative of a16z Partner Fund said:
“We believe Sardine is a key payment infrastructure provider across both traditional and decentralized finance. Sardine’s anti-fraud technology makes money transfers faster and with minimal risk.”
It can be seen that even though the market is going through a difficult time, a16z still makes large investments in startups in the same industry. In May 2022, a16z announced a $4.5 billion fund for crypto-related startups.
In addition to A16z, participating in this round of funding, there are other well-known investment funds such as: l Visa, Google Ventures, Eric Schmidt, Vikram Pandit, The General Partnership, NAventures, ING Ventures, ConsenSys, Cross River Digital Ventures, Alloy Labs, Uniswap Labs…
Previously, in February 2022, Sardine also successfully raised Series A capital with a value of 19.5 million USD. Investment funds participating in the Series A round include Andreessen Horowitz, NYCA and Experian Ventures.
Sardine is headquartered in San Francisco with co-founders: Suops Ranjan, Zahid Shaikh and Aditya Goel. Previously, the Sardine team was involved in building anti-fraud platforms for Coinbase and Revolut.
By combining traditional financial data such as bank account history, identity, behavior and artificial intelligence (AI), Sardine’s technology helps identify risks, categorize transactions and better fraud prevention.
Sardine will help payment platforms verify KYC (personal identity) and AML (anti-money laundering) verification, thereby preventing inappropriate behavior in time. Two famous exchanges FTX and Blockchain.com are now Sardine customers.
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