Cleafy, an Italian provider of fraud prevention technology for digital banking, has raised €10 million in funding led by United Ventures through the fund UV T-Growth.
As part of the investment, Cleafy’s parent company, Movri Group, will retain a minority stake while relinquishing control.
Founded in 2014, Cleafy’s technology proactively detects and prevents online banking fraud in real-time, protecting over 100 million users through partnerships with companies such as Findomestic by BNP Paribas, ING Bank Romania, and illimity Bank.
The newly acquired funds will be utilized for product development and expansion into new markets.
Fabio Pirovano, partner at United Ventures, expressed confidence in Cleafy’s technology, stating, “We believe that Cleafy’s technology has the potential to transform the way we approach online security and we look forward to working with the team to help them achieve their vision.”