+46%

est. 2Y upside i

FinTechCybersecuritySeries C

Fraud prevention and compliance platform for fintech and crypto companies

Rank

#980

Sector

Fintech, Cybersecurity

Est. Liquidity

~3Y

Data Quality

Data: Medium

Sardine presents a high-risk, high-reward equity opportunity with probability-weighted ~46% upside over 2 years.

Last updated: July 19, 2026

Bull (30%)+180%

If Sardine maintains high growth and hits an IPO window, multiple holds near 28.7x, yielding 200% upside before dilution (180% after), capped per stage constraint.

Base (50%)+18%

Multiple compresses to ~11.5x as growth decelerates; exit ~$909M yields 38% upside before 20% dilution, netting ~18%.

Bear (20%)-86%

Multiple falls to 5x, exit $395M; after $171M preference, common stock worth $224M, a -66% return worsened by dilution to -86%.

Est. time to liquidity~3.0 years
Adjusted for competitive dynamics: 49% (raw: 46%, adjustment: +4%)

Preference Stack Risk

high

Funding Intensity

26%

Total funding of $171M represents 26% of entry valuation, giving preferred stock a 1x non-participating liquidation preference ahead of common.

Dilution Risk

high

With $25M raised in May 2026 and high burn rate, another round within 24 months is likely, expected to dilute existing shareholders by ~20%.

Secondary Liquidity

limited

No secondary market trades reported; liquidity likely requires IPO or acquisition, which is uncertain within 2 years.

Post-Sales — 11 roles

Engineering — 6 roles

Product — 4 roles

Sales — 3 roles

Talent and People — 3 roles

Fraud Ops and Analytics — 2 roles

Marketing — 2 roles

Finance — 1 role

Legal and Compliance — 1 role

Revenue Operations — 1 role

View all 34 open roles at Sardine →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Sardine's data — designed to show you've done your homework.

  • 1

    “How does Sardine's moat evolve as fraud AI becomes commoditized?”

  • 2

    “What is the path to profitability given high growth and customer acquisition costs?”

  • 3

    “How are employee equity grants structured to handle dilution from future rounds?”

Community

Valuation Sentiment

Our model estimates +46% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.