Company Overview
About Coris
Coris is a Palo Alto, California-based AI-powered merchant risk platform — backed by Y Combinator with $4.2 million raised including a $3.7 million seed round co-led by Lux Capital and Exponent Capital in 2024 — providing payment processors, payment facilitators, banks, and SaaS platforms with automated underwriting, fraud prevention, and ongoing transaction monitoring for small and medium business merchants through a single API powered by data on 330 million businesses worldwide. Founded in 2022 and serving GoFundMe, Kajabi, Clio, and Mindbody, Coris processes 150,000+ SMB merchant verifications while delivering 5x faster onboarding, 80% reduction in manual review processes, and 50% operational cost savings for payment infrastructure companies.
Business Model & Competitive Advantage
Coris's merchant risk management addresses the specific challenge that payment processors and embedded finance platforms face: underwriting the 30+ million US SMBs as merchant customers requires assessing business legitimacy, chargeback risk, fraud patterns, and industry-specific risk factors that general-purpose identity verification tools don't capture. Coris aggregates business registry data, beneficial ownership information, chargeback history, industry risk signals, and behavioral data across its 330 million business database to generate real-time merchant risk scores and ongoing monitoring alerts — flagging suspicious activity (sudden volume spikes, new high-risk products, geographic anomalies) that indicate merchant fraud or policy violations. The 80% reduction in manual review processes enables payment risk teams to focus on the edge cases requiring human judgment rather than routine verification.
Competitive Landscape 2025–2026
In 2025, Coris competes in the merchant underwriting, fraud detection, and payment risk management market with Stripe Radar (NASDAQ: ABNB, payment fraud for Stripe merchants), Sift (fraud platform, $50M raised), and Signifyd (fraud protection for e-commerce, $100M+ raised) for payment processor and fintech risk automation. The SMB merchant risk management market is expanding as embedded payments proliferate — every SaaS platform, marketplace, and vertical software company adding payment capabilities must manage the merchant risk that comes with it. Lux Capital's co-lead reflects deep conviction in the B2B fintech risk infrastructure category. The 2025 strategy focuses on growing payment facilitator adoption (ISOs and PayFacs that onboard thousands of SMBs monthly), building the ongoing monitoring product for post-onboarding transaction surveillance, and expanding the industry-specific risk models for verticals with elevated chargeback risk (travel, ticketing, nutraceuticals).
Key Differentiators
Emerging Innovator
Coris is an emerging player bringing innovative solutions to the Security market.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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