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Cleafy Raises €10M in Funding Round Led by United Ventures to Bolster Secure Digital Banking Ecosystem

Cleafy, a technology company specializing in proactive fraud prevention for digital banking, has secured €10 million in funding led by United Ventures through the 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 platform is widely recognized as a market leader, safeguarding over 100 million digital users against financial online fraud. Its clients include 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.

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.

The company was founded in 2014 by Matteo Bogana, who holds a PhD in computational physics from the Politecnico of Milan and has over 10 years of experience as Director at PoliHub Innovation Center, Niccolò Pastore, with 10+ years of experience in cybersecurity, big data, and distributed systems on the internet, and Carmine Giangregorio, an expert in cybersecurity.

Matteo Bogana, CEO at Cleafy, said their goal is not just to halt fraud but to anticipate attacks. Bognana said they have developed a platform that leverages tech to tackle cyber threats.

“The exceptional results achieved by our customers showcase the effectiveness of our distinctive approach and technology. Now, in collaboration with United Ventures, our focus is on scaling our operations and accelerating our growth to solidify our position in the market.”

United Ventures Partner Fabio Pirovano said they see Cleafy’s tech as transformational when it comes to online security.

Paolo Bozzola, CEO at Moviri, claims that Cleafy proves their thesis that AI will disrupt mission critical processes including fraud prevention.

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