Cleafy raises €10M to enhance its digital banking fraud prevention

Today Cleafy, a Milanese technology company specialising in proactive fraud prevention for digital banking, has secured €10 million in funding.

Cleafy has designed an innovative solution to proactively prevent online banking fraud, and ensure a safe and seamless user experience for online customers.

The company provides a platform that monitors all digital channels, including web apps, mobile apps, and open banking. It allows clients to prevent financial losses while delivering excellent digital customer experiences.

Its platform safeguards over 100 million digital users against financial online fraud. Its client base includes BNP Paribas group, ING Bank Romania and 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. 

Its 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.

According to Matteo Bogana, CEO of Cleafy

"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."

United Ventures leads the funding through the fund UV T-Growth. The investment round will support Cleafy's expansion into new markets and further development of its technology platform.