Mumbai-based B2B SaaS startup Data Sutram has raised $9 million in a Series A funding round co-led by B Capital and Lightspeed, marking a pivotal moment in the company’s growth trajectory. The infusion of capital will be used to enhance Data Sutram’s AI-powered fraud detection and risk intelligence platform, expand its reach into new sectors, and drive international growth, particularly in the Middle East and Southeast Asia.
Founded in 2018 by Rajit Bhattacharya, Ankit Das, and Aisik Paul, Data Sutram has established itself as a key player in the RegTech space, supporting banks, NBFCs, and fintech firms in combating fraud and managing risk. The company’s proprietary Trust Score analyzes millions of digital footprints to detect synthetic identities, identity theft, and collusion, providing a comprehensive risk profile for customers onboarding and transaction monitoring. With over 110 million identities processed to date, Data Sutram’s solutions have helped leading financial institutions such as HDFC Bank, Axis Bank, Tata Capital, and Amazon Pay reduce fraud and improve operational efficiency.
The fresh funding will allow Data Sutram to strengthen its core product suite, which includes DS Authenticate for fraud detection and customer onboarding, and extend its offerings to high-risk industries like cryptocurrency, real-time payments, gaming, e-commerce, and insurance. The company also plans to expand its workforce from its current base of around 65 employees to support this ambitious growth.
CEO Rajit Bhattacharya emphasised that the investment marks the beginning of a new chapter for Data Sutram, enabling the company to build a more secure and trustworthy digital financial ecosystem. Investors from B Capital and Lightspeed highlighted Data Sutram’s innovative approach to real-time analytics and compliance, positioning the company as a category-defining leader in India’s rapidly evolving digital economy.
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Having previously raised $3 million in September 2023, Data Sutram’s latest funding round brings its total capital raised to over $15 million, underscoring strong investor confidence in its vision and technology. As the demand for intelligent, scalable fraud prevention continues to grow, Data Sutram is poised to play a central role in safeguarding digital transactions in India and beyond.
