Fraud prevention and investigation startup AdvaRisk has raised $700,000 (nearly Rs 5 crore) in its first round of institutional funding from Sprout Venture Partners, SEA Fund and angel investors. The company, founded in 2016 by Vishal Sharma and Rahul Metkar, is developing an automated fraud detection platform meant for the corporate loan portfolio of financial institutions. It has already started working with banks, non-banking lenders and corporate entities in India.

(ET Tech)