Findustry AI founder Jonathan Razi raises $2.25 million to automate card chargebacks for merchants

Jonathan Razi, the payments veteran behind CardX, has launched Findustry AI with a chargeback-focused product for merchants and payment facilitators. For high-risk operators, that matters because chargebacks are one of the few back-office problems that can quickly turn into a margin problem, a fraud problem, and a support problem all at once.

1. Findustry AI rolled out its public-facing brand of agentic chargeback services in June after Razi raised $2.25 million. He said the startup does not need more funding at the moment, and declined to provide financials.
2. The company was launched last year and is building AI agents for payments workflows — in Razi’s words, using generative AI to automate payments tasks that previously required a human employee. The immediate use case is chargeback management, which he says is meant to help merchants automate a nettlesome part of operations.
3. Razi said he formed a small team in the Chicago area in 2024, drawing on contacts from his time leading CardX, a payments company that helped merchants integrate surcharge systems for payments. CardX was sold in 2021 for an undisclosed amount to payments processor Stax Payments.
4. For now, Razi has named only two clients: Cleveland-based Electronic Merchant Systems, which does business as Kurv, and Indianapolis-based payments facilitator AllPaid. Kurv uses the chargeback agent for its own operations and resells it to merchant clients, while AllPaid uses the tool, which can be embedded in client portals, to handle payments for municipal and county clients.
5. Razi also said he thinks agentic commerce is still “very, very early,” with more builders than users right now. On Visa’s new fraud program and stablecoins, the interview did not include enough detail to draw firm operational conclusions, but it does show where one payments founder is placing his next bet: software that removes manual work from the workflows merchants hate most.

For PSPs, acquirers, and platforms serving higher-risk merchants, the interesting part is not the AI label. It is the target workflow: chargebacks, reselling to merchant clients, and embedded handling inside client portals. That is where operational pain lives, and where vendors tend to earn their keep.