Milan, September 12, 2023 - Cleafy, a technology company specializing in proactive fraud prevention for digital banking, has secured €10 million in funding led by United Ventures throughthe 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 platforms 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. 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.
As part of the transaction Moviri group, Cleafy's parent company and one of the early-stage investors, will retain a minority stake while relinquishing control. Moviri's support has been crucial in facilitating Cleafy's growth, market entry, acquisition of key early customers, and validation of its technology.
Seizing the global fraud detection and prevention market
Cleafy operates in a rapidly growing market driven by the rise of sophisticated cyber-fraud. Factors such as increased adoption of digital financial products, the introduction of instant payments, and high customer expectations for security and speed have created a demand for seamless user experiences with reliable invisible security. Cleafy addresses this challenge by providing a platform that monitors all digital channels, including web apps, mobile apps, and open banking, allowing clients to prevent financial losses while delivering excellent online experiences to their customers.
With the recent funding round, Cleafy is well-positioned to further develop its innovative technology and assist businesses in combating the escalating threat of online fraud.T he company was founded in 2014 by Matteo Bogana, who holds a PhD in computationalphysics from the Politecnico of Milan and has over 10 years of experience as Director atPoliHub Innovation Center, Nicolò Pastore, with 10+ years of experience in cybersecurity, bigdata, and distributed systems on the internet, and Carmine Giangregorio, an expert in cybersecurity.
About Cleafy
Cleafy is a team of fraud hunters, cybersecurity experts, data scientists, and software engineers that since 2014 share the same dream: make technology a safer place. That’s why Cleafydesigned a technology that identifies and prevents financial fraud in real time, while ensuring a safe and seamless user experience.
Recognised as a market leader by industry analysts, today, Cleafy protects over 100M+ users of top-tier retail and corporate banks against online financial fraud.
To learn more, visit www.cleafy.com.
About United Ventures
United Ventures is a venture capital firm based in Milan that supports visionary entrepreneurs on their journey to transform industries through technology. Founded in 2013 by Massimiliano Magrini and Paolo Gesess, the firm has established a leading position in Italy over the past decade and today counts a team of 15 venture professionals with diverse backgrounds and skills.
With a successful track record of supporting more than 30 investments, including Moneyfarm, FACEIT, and Musixmatch, United Ventures provides the strategic guidance, collaboration, and expertise that fast-growing companies need to scale responsibly while maximizing long-term value creation.
For further information, please visit www.unitedventures.com.
Press contactThirdEyeMedia | Clara Armand-Delille | clara@thirdeyemedia.press
