Corgi Labs

Executive Summary

Corgi Labs is a YC W23 seed-stage startup building an AI-powered fraud prevention and payment acceptance optimization layer on top of Stripe, Shopify, and Adyen. The market it operates in is real, large, and fast-growing — fraud detection and prevention is a $33B+ market expanding at ~19% CAGR — and the pain point (merchants losing 3–3.6% of eCommerce revenue to fraud, plus an average 17.4% false decline rate) is well-documented and acute. The fundamental problem: Corgi Labs is competing against deeply entrenched, massively better-funded incumbents (Sift, Signifyd, Forter, Sardine) and the very PSP platforms it integrates with (Stripe Radar, Adyen Risk Management), all of whom lead with the same "reduce fraud + increase approvals" narrative. With only $4.1M raised, a team of 2–10, no publicly verifiable revenue, and no disclosed follow-on financing nearly two years post-YC graduation, the biggest risk is execution and survivability — not whether the market exists.