Baselayer, an AI-driven startup specialized in helping financial institutions verify business identities and mitigate fraud, has raised $35 million in Series A funding led by M13. The San Francisco-based company has developed technology that integrates business identity, credit, and fraud data to assist banks and fintech firms in evaluating prospective customers. Over 2,000 financial institutions use Baselayer’s platform, which has helped prevent more than $1 billion in fraud losses since its founding in early 2023.
With its new funding, Baselayer is expanding to address the challenge of verifying AI agents acting on behalf of individuals or businesses. Their newly launched Agentic Identity Suite aims to establish authorized credentials for AI agents to prove legitimacy, helping merchants and financial institutions make informed decisions on transactions involving such agents. Baselayer is collaborating with industry players like FIS, Prove, and Socure in this effort.
The rise of AI agents creates both opportunities and risks, as fraudsters can now exploit automation to scale fraudulent activities more rapidly. Baselayer’s platform seeks to provide a framework to identify and trust AI agents, a necessary evolution in a world where AI increasingly performs economic and transactional roles.
