HomeFundingMilan-based Cleafy secures €10 million to prevent online banking fraud in real...

Milan-based Cleafy secures €10 million to prevent online banking fraud in real time

Cleafy, an Italian technology company specializing in proactive fraud prevention for digital banking, has secured €10 million in funding led by United Ventures through the fund UV T-Growth. The investment round will support Cleafy’s expansion into new markets and further development of its technology platform. The cybersecurity industry, particularly the fraud prevention segment, is experiencing rapid growth and presents significant opportunities. The global fraud detection and prevention market is currently growing close to 25% year on year and is expected to reach $190.93 billion by 2030.

Cleafy’s innovative solution proactively detects and prevents online banking fraud in real-time, ensuring a secure and seamless user experience for online customers. The company’s platform is widely recognized as a market leader, safeguarding over 100 million digital users against financial online fraud. Its client base includes major global banking groups like Findomestic by BNP Paribas group, and ING Bank Romania, as well as fast-growing banks and fintech players like illimity Bank. Cleafy boasts a 100% client renewal rate, demonstrating the effectiveness of its platform.

“Our goal is not simply to stop fraud; rather, we aim to anticipate attacks and proactively prevent fraud from occurring. To achieve this, we have developed a groundbreaking platform that pioneers the Cyber Fraud Kill Chain space. By leveraging methodologies employed in information security to tackle cyber threats, we have established a holistic framework for combating cyber fraud. The exceptional results achieved by our customers showcase the effectiveness of our distinctive approach and technology. Now, in collaboration with United Ventures, our focus is on scaling our operations and accelerating our growth to solidify our position in the market,” said Matteo Bogana, CEO at Cleafy.

In recent years, Cleafy’s Threat Intelligence team has been instrumental in identifying advanced cyber threats targeting global banks. Their technical intelligence reports, known as Cleafy LABs reports, have become a reference point for fraud analysts and threat hunters worldwide. Additionally, Cleafy LABs collaborates with CERTFin – Italian Financial CERT – to produce periodic strategic reports on the evolution of the threat landscape in the financial sector.

The company was founded in 2014 by Matteo Bogana, who holds a Ph.D. in computational physics from the Politecnico of Milan and has over 10 years of experience as Director at PoliHub Innovation Center, Niccolò Pastore, with 10+ years of experience in cybersecurity, big data, and distributed systems on the internet, and Carmine Giangregorio, an expert in cybersecurity.

“At United Ventures, we are always on the lookout for innovative technologies that have the potential to make a significant impact. Cleafy’s real-time fraud prevention platform is a prime example of such a technology, and we have been impressed by the team’s expertise and commitment to building a safer digital world. We believe that Cleafy’s technology has the potential to transform the way we approach online security and we look forward to working with the team to help them achieve their vision,” added Fabio Pirovano, Partner at United Ventures.

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Stefano De Marzo
Stefano De Marzo
Stefano De Marzo is the Head of News at EU-Startups. He has been extensively covering startups, venture capital and innovation ecosystems, including contributions to numerous publications such as Sifted, Entrepreneur and Forbes. Through his work as an editor and writer, he continues to shape the narrative surrounding the best stories of the tech world.

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