From-VentureTech-Pitch-to-Portfolio-Company

From VentureTech Pitch to Portfolio Company: Curql Deepens Strategic Investment in Casap to BringAgentic AI Dispute and Fraud Automation to Credit Unions

Casap's path from the 2023 VentureTech Launch Party to the first Curql Accelerate cohort to the Curql investment portfolio shows how credit union-backed investing builds lasting fintech partnerships.
DES MOINES, Iowa - Nov. 10, 2026 - Curql, a strategic investment fund backed by more than 160 credit unions, today announced its participation in the $56 million Series B of Casap, the AI agent platform for financial services. For Curql, the milestone caps a relationship that began on the VentureTech stage in 2023, grew through the first cohort of Curql Accelerate in 2024, and has made Casap a full member of
the Curql investment portfolio.

A relationship planted early
Casap first came to Curql's attention when it pitched at the VentureTech Launch Party in 2023, in front of credit union leaders looking for practical answers to rising fraud and dispute volumes. In 2024, Casap joined the inaugural cohort of Curql Accelerate, where it worked directly with credit unions to shape its platform around their policies, core systems, and member expectations. Today, Casap is a full Curql
portfolio company.
"Casap is exactly the kind of story Curql was built to tell. We met Shanthi and her team on the VentureTech stage, built alongside them in the first Curql Accelerate cohort, and watched credit unions put their platform to work. Participating in this Series B is the natural next step. Disputes and fraud are
where members feel the most strain and where credit union staff spend some of their most manual hours. Casap helps credit unions resolve those moments faster and more fairly, and that's a direct win for members," said Nick Evens, President and CEO of Curql.

What it means for credit unions
Disputes and first-party fraud are among the most manual, time-consuming, and costly operations a credit union runs. Fragmented, legacy systems fail to keep members informed, and every claim that needs to be resolved manually pulls staff away, creating a slow and opaque process at the moment trust
matters most. Casap's platform deploys specialized AI agents that investigate, decide, and act across the systems credit unions already use. The agents apply each institution's own policies and bring staff in when a decision needs human judgment.

Across more than 100 banks, credit unions, fintechs, and processors, Casap reports:

• Up to 51% reduction in first-party fraud losses

• A 96% chargeback win rate, compared with a 60% industry average

• Resolution times cut from as long as 90 days to 8 days

• Human processing time reduced from 45 minutes to 1-2 minutes per case

Credit union-specific testing points the same way. In the Filene Research Institute's FiLab testing, acredit union deploying Casap estimated $875,000 in first-year savings and cut per-claim processing costs by about 90%.

"Credit unions didn't just buy our product. They helped build it. Thanks to Curql Accelerate, we sat with back office teams, talked about their pain points, and designed our agents to solve them," said Shanthi Shanmugam, CEO and Co-Founder of Casap. "Curql joining our Series B ensures the institutions that

shaped Casap will continue to benefit and contribute to where it goes next."

Expanding beyond disputes

Casap's Series B, which was led by Base10 Partners, with participation from Curql and strategic participation from Experian and Synchrony, will be used to expand its platform beyond disputes into broader high-stakes financial operations, including fraud, collections, claims, and complex exceptions. Faced with fragmented systems and manual investigations that contribute to financial loss, delays, and customer churn, Casap's platform will help credit unions achieve outcomes that were previously too expensive, complex, or time-consuming to deliver at scale. For credit unions, this means bringing the same approach that transformed dispute operations to the moments that matter most for members, creating a future where everyone's life is meaningfully better because their credit union has their back.

Credit unions can meet the Casap team at VentureTech, Nov. 16-18, 2026, at the Omni Fort Worth Hotel.

About Curql

Curql Collective is a fintech investment ecosystem built by credit unions, for credit unions. With the backing of over 160 progressive credit unions, Curql invests in and accelerates the development of fintech solutions that empower credit unions to better serve their members and stay competitive. Curql Fund II closed in 2025 at $360 million (the largest credit union-led fintech fund ever), following the success of Fund I ($252 million closed in 2021). Through Curql Fund I, Curql Fund II, and Curql Accelerate, the collective has partnered with over 50 fintech companies to bring transformative technologies directly to the credit union movement. Together, we're creating opportunities for growth, enhancing member experiences, and driving meaningful change across the industry.

About Casap

Casap is the AI agent platform for financial services, helping institutions deliver outcomes that were previously out of reach. Casap combines specialized AI agents, deep industry expertise, and forward-deployed teams to transform high-stakes operations from disputes and fraud to collections, claims, and

more. More than 100+ financial brands trust Casap to make compliant decisions, move money, and improve the customer experience at a fraction of the cost. Founded by Shanthi Shanmugam (ex-Robinhood, Inc. Female Founders 500) and Saisi Peters (ex-Chime), Casap is backed by Base10 Partners, Emergence Capital, Lightspeed Venture Partners, and Primary. Learn more at casap.ai.

Media contacts

Curql: Nick Evens, [email protected]

Casap: Judy Lin, [email protected]