Co-founders Neha Narkhede and Sachin Kulkarni publicly launched their AI-powered fraud and online theft detection startup Oscilar, backed by $20M of their own capital. Narkhede did not take funding from investors to "quickly build and scale the company."
- The startup was working in stealth mode until today and has already lined up "dozens" of fintech clients.
- Oscilar
leverages proprietary AI and ML models to analyze first and third-party
data about past fraud incidents to detect online fraud transactions.
- Narkhede
adds that Oscilar has "automated the feedback loop that updates our
models. As a result, they automatically get smarter over time."
- Narkhede previously co-founded the publicly listed data streaming company Confluent.
- Juniper Research forecasts online payment fraud losses to touch $200B by 2025.
- VC funding for the sector dropped 41% from a peak of $137B in 2021 to $81B in 2022.
