Cleafy, a fintech company that works with banks and payment service providers in fraud prevention, has just closed a €10 million investment round. The deal was led by United Ventures, through UV fund T-Growth.
Cleafy said it will use the funds to support its expansion into new markets and develop its technology platform. After the round, the Moviri Group, Cleafy’s holding company and one of the initial investors, will retain a minority stake by relinquishing control.
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What Cleafy is all about
Founded in 2014 by Matteo Bogana, a doctoral student in computational physics at Politecnico di Milano and former director of PoliHub Innovation Center, Niccolò Pastore, a cybersecurity and big data expert, and Carmine Giangregorio, a cybersecurity expert, Cleafy aims to proactively detect and prevent online banking fraud in real-time. It does this through a platform that monitors all digital channels, including web and mobile applications, and through open banking, enabling customers to prevent financial losses by providing them with a smoother experience.
Cleafy’s portfolio has 100 million digital users, and its customers include Findomestic, of BNP Paribas Group, and ING Bank Romania, as well as fintech companies and digital banks such as Illimity Bank. With its Threat Intelligence team, Cleafy LABs, the company identifies, analyzes, and prevents a range of digital threats against customers of major international banks. Cleafy LABs also collaborates with CERTFin – CERT Finanziario Italiano – to produce periodic strategic reports on the evolving threat landscape in the financial sector.
With the recent investment round, Cleafy will further accelerate the development of its innovative technology platform to help companies counter online fraud threats. “Our goal is not simply to stop fraud; Cleafy aims to anticipate attacks so they can be proactively prevented,” explained Matteo Bogana, Cleafy CEO.
“To achieve this, we have developed a platform that paves the way for the Cyber Fraud Kill Chain and, by leveraging methodologies used in cybersecurity to counter cyber threats, we have created a holistic approach to fighting fraud. Now, through our partnership with United Ventures, we will further focus on growth and accelerating technological innovations to consolidate our market position.”
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This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in StartupItalia. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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