Cleafy, a Milanese technology firm that specialises in proactive fraud prevention for digital banking, has raised €10m in a recent funding round.
The capital injection came from United Ventures, who led the funding via their UV T-Growth fund.
The company has made waves in the digital banking sector with an innovative solution aimed at actively preventing online banking fraud. Cleafy’s platform provides comprehensive monitoring across all digital channels, including web apps, mobile apps, and open banking. The idea is to enable clients to nip financial losses in the bud, all the while enhancing the digital experience for customers.
With the fresh capital, Cleafy intends to broaden its reach into new markets and continue the development of its advanced technology platform. Its existing platform already protects over 100 million digital users from financial fraud online and serves prestigious clients such as BNP Paribas Group, ING Bank Romania, and Illimity Bank.
The company boasts a 100% client renewal rate, a testimony to the platform’s effectiveness. In recent years, Cleafy’s Threat Intelligence team has been crucial in uncovering sophisticated cyber threats aimed at global banks. These findings are often encapsulated in their Cleafy LABs reports, which have become a go-to resource for fraud analysts and threat hunters around the globe. Moreover, Cleafy LABs collaborates with CERTFin, the Italian Financial CERT, to periodically produce strategic reports on the financial sector’s evolving threat landscape.
Matteo Bogana, CEO of Cleafy, commented, “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, we focus on scaling our operations and accelerating our growth to solidify our position in the market.”
As part of the deal, Moviri Group, Cleafy’s parent company and an early-stage investor, will retain a minority stake while giving up control.
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