Instnt
Instnt is an innovative company that provides proactive fraud loss insurance and identity verification solutions for businesses of all sizes. Their AI-managed customer acceptance platform enhances digital services by ensuring compliance with KYC and CIP standards while significantly reducing fraud losses to as low as 0.02%. With a fully managed solution and proprietary technology, Instnt allows businesses to accept a higher percentage of millennial and Gen Z customers, achieving top-line revenue growth and a frictionless customer experience. Their unique pay-for-performance model ensures that clients only pay for accepted customers, making it a cost-effective choice for companies looking to scale without the burden of fraud management.
Instnt
Instnt is an innovative company that provides proactive fraud loss insurance and identity verification solutions for businesses of all sizes. Their AI-managed customer acceptance platform enhances digital services by ensuring compliance with KYC and CIP standards while significantly reducing fraud losses to as low as 0.02%. With a fully managed solution and proprietary technology, Instnt allows businesses to accept a higher percentage of millennial and Gen Z customers, achieving top-line revenue growth and a frictionless customer experience. Their unique pay-for-performance model ensures that clients only pay for accepted customers, making it a cost-effective choice for companies looking to scale without the burden of fraud management.
TL;DR
Headquarters: New York, New York (USA)
Founded: 2019
Product: AI-managed customer-acceptance platform + proactive fraud-loss insurance and identity verification
Business model: Pay-for-performance acceptance model; fully managed, low-code/no-code integration
Funding: Total reported funding: 17500000.00 USD; last round: Convertible Note (2024-02-16)
Founders: Sunil Madhu (Founder/CEO), Mimi Salcedo (Co-founder)
Company Overview
Problem Domain
Identity fraud risk mitigation during customer onboarding and transfer of residual fraud losses to the insurance market.
Founded
2019
Industry
InsurTech
Funding Track Record
Investor Signal
“Funded by 5 investors, including Revel Ventures and Third Prime.”