Welcome back to Not Fintech Investment Advice, where Simon Taylor and I do what we do best: talk about fintech startups we’re absolutely not giving investment advice on.

First up is Trudenty, a fraud intelligence network tackling first-party fraud. It uses federated learning to let issuers, PSPs, and merchants identify repeat abusers without sharing raw data. They’re starting with Worldline, JPMorgan Chase, and Mastercard, and keeping the pitch simple: they only sell one thing, and that one thing works. The stat that stuck with us? 80% of chargebacks are fraudulent.

Next is TidalWave, agentic AI for mortgage point-of-sale. Instead of replacing loan officers, it works like a 24/7 assistant (one that handles follow-ups, corrects docs, and chases data). They’ve raised $22M, with the largest homebuilder in the U.S. on the cap table. It’s mortgage tech that avoids the loan origination system entirely, steering clear of regulated decisions while cleaning up the messy front-end workflow that still kills conversion. 

Then there’s Kaaj, which is aimed at the part of small business lending that no software platform has ever fully cracked. Think about a business applying for a government-guaranteed loan or financing a new piece of equipment; lenders have to parse tax returns, bank statements, and identity documents that never look the same twice. The loans are too small for a credit team, but too complex for automation. Kaaj trains AI agents to read those documents and create the first draft of a credit memo that a human can review. The product solves a real problem, but the question is: can they win the category?

Finally, FinReach Solutions in India tackles the gap between micro and small business credit. Lenders have money. Credit guarantors are willing to share risk. What’s missing is the infrastructure between them. Every guarantee program runs on bespoke rules and manual forms. FinReach standardizes that process, automates the guarantees, and makes collateral-free lending possible at scale. Think of the US SBA, but rebuilt as actual software instead of paperwork.

Plus, some closing manifestations: AI for mortgage POS should fix the front-end friction that causes borrowers to drop out; SMB lending needs an actual platform between public money and private lenders; and rising chargebacks might say less about fraud and more about good customers who are tired of being treated like suspects.

Thanks for listening! 

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Companies featured:

https://trudenty.com/

https://www.tidalwave.ai/

https://kaaj.ai/

https://www.finreach.in/