PayPal backs Bureau with £23M Series B as global fraud surges

Global fraud losses have surged to £386 billion annually, prompting a new wave of investment in anti-fraud technology. Bureau, a risk intelligence platform specialising in AI-driven fraud prevention, has raised £23 million in Series B funding, led by Sorenson Capital with participation from PayPal Ventures.

The investment comes as businesses face increasingly sophisticated cyber threats, with fraudsters leveraging AI to outsmart traditional defences. Bureau, which has seen its revenue triple since its last funding round, plans to use the funding to expand into new markets and enhance its technology.

For Bureau’s founder and CEO, Ranjan Reddy, the fight against fraud is deeply personal. After falling victim to cyber fraud himself, he set out to create a platform that transforms how businesses verify digital identities and detect threats. “For every digital interaction, businesses must ask two critical questions: ‘Who are you?’ and ‘Can I trust you?’” said Reddy.

Bureau’s technology, powered by Graph Neural Networks, tackles a range of challenges, from money mule accounts and deepfake identities to account takeovers and payment fraud. Unlike traditional rule-based systems, the platform combines device intelligence, behavioural AI, and predictive modelling to deliver real-time, contextual fraud prevention.

“This isn’t just about preventing fraud—it’s about restoring trust in digital transactions,” added Reddy.

The platform’s comprehensive capabilities allow businesses to consolidate what would otherwise require multiple vendors, API integrations, and complex rule engines. Bureau’s proprietary identity knowledge graph, which now includes over half a billion identities and behavioural patterns, provides businesses with real-time insights across the entire customer lifecycle.

Rob Rueckert, a Partner at Sorenson Capital, noted Bureau’s unique approach: “Bureau stops fraud without disrupting the customer experience—a balance that’s critical in today’s digital economy.”

The funding will accelerate Bureau’s global expansion and bolster its data and AI capabilities. While the company has primarily operated in Asia, this new investment will allow it to bring its solutions to additional regions, where demand for advanced fraud prevention tools continues to grow.

Bureau has already demonstrated its impact across industries. Fintech firms have used the platform to tackle synthetic identity fraud, while gaming platforms have deployed its behavioural AI to detect collusion. Its privacy-first approach, which uses tokenised identities, also ensures compliance with data protection regulations, further increasing its appeal to businesses under pressure from growing regulatory scrutiny.

The backing from PayPal Ventures signals confidence in Bureau’s ability to address the pressing challenges of the digital economy. As fraud continues to evolve, Bureau’s integrated AI-driven approach offers a glimpse into the future of fraud prevention—one where businesses can protect their customers while maintaining trust in an increasingly hostile digital environment.

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