Monday, 2 June, 2025

VerSe Innovation Denies Allegations of Fake Invoicing with Builder.ai Amid Financial Scrutiny

Bengaluru-based VerSe Innovation, parent of Dailyhunt, faces allegations of inflating revenues through reciprocal invoicing with UK-based Builder.ai between 2021 and 2024. Reports suggest both companies issued invoices without actual services rendered, with Builder.ai allegedly receiving $60 million. VerSe CEO Umang Bedi refutes the claims, asserting all transactions were for legitimate services like cloud computing and advertising, verified by external audits.