Rasēd, a Riyadh-based artificial intelligence (AI) startup specializing in fraud detection, has successfully raised a pre-seed funding round led by Wa’ed Ventures, the venture capital arm of Saudi Aramco. SHARE Investment also participated in the round, along with other undisclosed investors. Founded in 2022 by Talal Al-Badrani and Mustafa Al-Salhi, Rasēd develops an AI-powered platform designed to identify and prevent digital financial fraud in real time without compromising system speed or user experience.
According to the company, its technology has already prevented over $100 million in fraudulent transactions across its client base. This impressive track record highlights the growing demand for sophisticated fraud prevention solutions within the financial sector. Rasēd aims to leverage this funding to expand its operations throughout the Gulf Cooperation Council (GCC) region.
How Rasēd Works: AI-Powered Defense Against Fraud
Rasēd’s platform operates by analyzing user behavior and device signals in real time. These signals are rapidly evaluated – within milliseconds – allowing the system to flag suspicious transactions before they escalate into losses. This lightning-fast response is crucial for maintaining a seamless experience for legitimate users, avoiding friction that could deter them from completing transactions.
Crucially, Rasēd’s AI technology continuously learns and adapts to evolving fraud patterns and user behavior. This adaptive learning minimizes false positives and enhances the accuracy of its fraud detection capabilities. The platform replaces traditional rule-based systems, which often struggle to keep pace with increasingly sophisticated fraud schemes.
Regulatory Compliance in a Growing Fintech Landscape
Rasēd emphasizes compliance with regulations set by the Saudi Central Bank. Its system is built with privacy-preserving features and offers audit-ready logging tools that meet these stringent requirements. This focus on regulatory alignment positions Rasēd strategically within the rapidly expanding fintech landscape of the GCC, where institutions are increasingly seeking AI-driven solutions while adhering to strict financial regulations.
Beyond Saudi Arabia: Expanding Across the GCC
Founded with a clear vision to address the growing need for robust and efficient fraud detection in digital banking and payments, Rasēd is strategically positioned for regional expansion. Its current operations serve clients in Saudi Arabia, and it plans to extend its reach across the wider GCC market using its scalable infrastructure.
This funding round signifies not only a vote of confidence in Rasēd’s technology but also highlights the increasing investment interest in innovative fintech solutions within the Middle East.
