Today Sardine announced a $51.5 million Series B funding led by a16z that includes Visa, ING Ventures, Google Ventures and ConsenSys, amongst others. Andreessen Horowitz also led the company’s $19.5m Series A in February.
Sardine’s clients are not only crypto companies but digital assets firms dominate, including FTX and MoonPay.
Fintechs use the startup’s fraud detection solution when customers load their wallets from cards or via bank payments. For cards, decline rates can be significant, and Sardine helps to address that. The other route is bank payments, but in the U.S., ACH bank payments take two days. Often the fintech is willing to provide some level of access to the money instantly, perhaps up to $500.
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