Financial fraud detector Drona Pay raises Rs.3.2 Cr from Varanium Capital, others

Mumbai-based Drona Pay, which helps financial institutions defend themselves against fraudsters, has raised a seed round of INR 3.2 crore from Varanium Capital, Credit Saison, fintech veterans Kunal Shah, Jitendra Gupta and Amrish Rau, and a clutch of other investors. Drona Pay aims to deliver real time protection using machine learning & proprietary data sets, to defend institutions against frauds in payments & lending. It will use the funds to expand its technical and product teams.