Redefining the future of digital banking security. Our investment in Cleafy
September 12th, 2023
We’re excited to announce our latest investment of 10 million euros in Cleafy, the technology company specializing in proactive fraud prevention for digital banking. The funding will allow Cleafy to develop its technology platform further as it expands into new markets.
Frauds are evolving, but fraud management is not. As financial interactions increasingly migrate online, the risk of cyber-fraud is expanding. This is propelled by the rise of real-time payments and more sophisticated hacking techniques. Cybercriminals continuously invent new ways to compromise digital systems, causing massive financial and reputational damage. To address this pressing challenge, Cleafy designed an innovative fraud prevention software solution. Their platform protects bank customers in real-time, safeguarding security while ensuring a safe and seamless user experience.
Why we invested in Cleafy
At United Ventures, we invest in innovative solutions that can tackle the challenges of our time. After conducting extensive research on the cybersecurity sector and specifically on the fraud management industry, we believe that Cleafy has the potential to become a software category leader in the fraud and online security sector, which is currently growing close to 25% year on year and is expected to reach $190.93 billion by 2030.
What sets Cleafy apart from other technology solutions currently available in the market is its adaptability and ability to monitor all digital channels, including web apps, mobile apps, and open banking, providing a proactive defense against even the most sophisticated attacks. Cleafy has developed an end-to-end proprietary white-box software platform that can identify cyber-attacks throughout the entire customer journey while remaining flexible to meet clients’ requirements. Their fraud prevention platform uses advanced machine learning algorithms and behavioral analytics to detect and prevent fraud in real-time while ensuring a seamless user experience.
Cleafy has proven its solution fits the needs of the market, with growing customer adoption, especially among major Italian banks. Independent analysts recognize Cleafy as the sector leader, and its platform currently safeguards more than 100 million digital users. Over time, Cleafy has maintained a 100% retention rate of clients, who range from leading global banking groups to fast-growing innovative banks and fintech players.
This success stems from Cleafy’s talented team, who are passionate about their mission. Comprised of fraud experts, cybersecurity specialists, data scientists, and engineers, they share the same dream of making technology a safer place. Since 2014, Cleafy’s team has worked tirelessly to evolve and strengthen its fraud prevention platform. Their dedication and skills have propelled Cleafy to the forefront of its industry.
“Our goal is not simply to stop fraud; rather, we aim to anticipate attacks and proactively prevent fraud from occurring. Now, in collaboration with United Ventures, our focus is on scaling our operations and accelerating our growth to solidify our position in the market.”
– Matteo Bogana, CEO at Cleafy
Cleafy was founded by Matteo Bogana, who holds a Ph.D. in computational physics from the Politecnico of Milan and has over 10 years of experience as Director at PoliHub Innovation Center, Nicolò Pastore, with 10+ years of experience in cybersecurity, big data, and distributed systems on the internet, and Carmine Giangregorio, an expert in cybersecurity. They all bring exceptional leadership skills, extensive industry knowledge, and strong technical backgrounds to the table.
The founders’ expertise has played a crucial role in shaping the high-quality business organization and operations of Cleafy. In addition to that, Moviri, the holding company prior to the investment round, has established a corporate heritage and mindset that have given Cleafy solid positioning as it enters its next phase of growth and maturity. The founding vision and groundwork provide a solid platform for Cleafy to build upon.
Cleafy’s innovative technology and proactive approach to fraud prevention are transforming how we approach online security. We are proud to be part of its journey and excited to see the impact that its technology will have on the digital banking industry.