Bureau Secures $30M in Series B to Tackle Global Digital Fraud

Bengaluru based risk intelligence startup Bureau has raised $30 million in a Series B round led by Sorenson Capital. The round included Paypal Ventures and other investors that were already invested in Koio; some of these investors include Commerce Ventures, GMO Venture Partners, Village Global, Quona Capital, and XYZ Ventures, the company revealed on the 18th of December.

The new funds will enable the Bureau to continue to improve its offering, attract key talent, diversify sales, and increase its international operations.

“Our revenue has grown 2.5 times annually through to 2024 and beyond,” said Ranjan Reddy, founder and CEO of Bureau. “This growth is also seen in our valuation, which we have seen having a positive reflection through increased investor confidence. We have managed to attain a customer population of 150 most of which are large companies. However, alongside India, we have expanded into five other countries in the world.”

The funding comes at a time when cyber fraud is slowly becoming rampant globally, with yearly losses pegged at over $5TR, 56% up from a decade ago. The bureau’s platform is tailor-made to assist companies navigate risks inherent in digital fraud and; this industry has attracted lots of investment within India and internationally.

By using this latest funding round, Bureau will properly position itself as the industry leader when it comes to fraud detection and cybersecurity, as well as help to address one of the most pressing issues of the current age – the development of reliable and efficient identity verification services.

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