Risk mgmt enabler for banks Advarisk plans to raise $25-M from Fundamentum

Mumbai-based Advarisk is in early talks with Fundamentum to raise USD 20-25 million. The company is also engaged in talks with other potential investors.Founded in 2016 by Vishal Sharma and Rahul Metkar, Advarisk provides tools to banks and financial institutions for identifying financial fraud, assessing borrower risk, and improving loan default recoveries. The company uses a database of real estate and other assets linked to defaulters and automates the detection of red flags within lender accounts.The company aims to leverage its platform to address the need among banks for sophisticated fraud detection and stressed asset recovery as they manage increasingly complex financial threats.