Source: www.securityweek.com – Author: Ionut Arghire
Online banking fraud detection and prevention firm Cleafy today announced that it has raised €10 million ($10.7 million) in its first funding round, which was led by United Ventures.
Founded in 2014, the Milan, Italy-based company offers a platform that proactively identifies and prevents digital banking fraud in real-time.
Cleafy’s fraud management solution continuously monitors users’ online activities, including on web and mobile apps and open banking, to prevent cyber fraud, including social engineering, automated attacks at API level, and malware.
The company says it immediately adds newly identified malicious patterns to the platform, to keep pace with the evolving threat landscape in the financial sector.
Serving major banking groups, such as Findomestic by BNP Paribas group and ING Bank Romania, as well as growing banks and fintech, Cleafy claims to be protecting more than 100 million users from online financial fraud.
The company also produces technical intelligence reports to help fraud analysts and threat hunting, and works with the Italian Financial CERT (CERTFin) to deliver reports on threats targeting the financial sector.
Cleafy plans to use the new investment to continue developing its technology. The firm also announced that, as part of the transaction, Moviri group, Cleafy’s parent company and initial investor, will relinquish control, while retaining a minority stake.
“Our goal is not simply to stop fraud; rather, we aim to anticipate attacks and proactively prevent fraud from occurring. By leveraging methodologies employed in information security to tackle cyber threats, we have established a holistic framework for combating cyber fraud,” Cleafy CEO Matteo Bogana said.
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Original Post URL: https://www.securityweek.com/cleafy-raises-e10-million-for-online-banking-fraud-prevention-platform/
Category & Tags: Cybersecurity Funding,Fraud & Identity Theft,funding – Cybersecurity Funding,Fraud & Identity Theft,funding
