Cleafy, a cybersecurity company focused on protecting financial institutions from digital fraud, has raised €12 million in a Series B funding round.
The round was co-led by United Ventures and eCAPITAL, bringing the company’s total funding to €22 million. The new investment will support further development of Cleafy’s security platform and expand its presence in banking markets across Europe and Latin America.
What The Company Does
Founded in 2014 by alumni of the Polytechnic University of Milan, Cleafy develops cybersecurity software designed to help banks detect and prevent digital fraud.
The company’s platform analyzes activity across multiple digital environments—including web applications, mobile banking platforms, backend systems, and network infrastructure—to identify signs of malicious activity.
Rather than focusing solely on individual transactions, Cleafy’s system monitors how cyberattacks develop and propagate through digital systems. By correlating data from multiple sources with real-time threat intelligence, the platform aims to detect suspicious infrastructure, attacker behavior, and emerging fraud patterns at earlier stages.
This approach allows financial institutions to respond to threats before fraudulent transactions occur.
Cleafy has also expanded its product offering with the introduction of Cleafy for Workforce, a solution designed to detect insider threats and compromised employee accounts within corporate environments.
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Market Context / Industry Background
Financial institutions continue to face increasing levels of digital fraud as cybercriminals adopt more advanced techniques to target banking systems and online transactions.
Traditional anti-fraud tools often rely on rule-based systems that analyze individual transactions in isolation. While these systems can detect suspicious activity, they may identify threats only after fraudulent actions have already occurred.
More recent approaches to cybersecurity focus on behavioral analysis and infrastructure monitoring, allowing organizations to detect attacks earlier in the intrusion process.
At the same time, regulatory frameworks across Europe are raising the requirements for cybersecurity resilience within the financial sector. Initiatives such as the Digital Operational Resilience Act (DORA) and new cybersecurity requirements under the NIS2 directive are encouraging banks to adopt more comprehensive risk monitoring systems.
These regulatory developments are increasing demand for technologies capable of identifying and mitigating cyber threats across complex digital environments.
Founder / Investor Commentary
Matteo Bogana, CEO and co-founder of Cleafy, said the company’s technology was designed to help financial institutions move beyond reactive fraud detection methods.
“While fraudsters weaponize AI to scale attacks at machine speed, European banks are fighting back with outdated, reactive tools,” Bogana said.
He explained that Cleafy’s platform focuses on identifying the early stages of cyberattacks before financial damage occurs.
“We built Cleafy to fundamentally change this equation by reconstructing how attacks form and stopping them weeks before they can cause damage,” he said.
Bogana added that the company’s customer retention over more than a decade reflects the effectiveness of this approach.
Growth Plans / Use Of Funds
Cleafy plans to use the Series B funding to strengthen its predictive cybersecurity capabilities and expand its threat intelligence operations.
The company also intends to increase its presence in international banking markets, with particular focus on Europe and Latin America.
Additional investment will be directed toward expanding the company’s threat analysis infrastructure and improving the platform’s ability to detect emerging attack techniques.
By continuing to develop its monitoring and predictive capabilities, Cleafy aims to help financial institutions respond more quickly to evolving cyber threats while meeting increasingly stringent regulatory requirements.
About Cleafy
Cleafy is a cybersecurity company that develops digital fraud prevention technologies for banks and financial institutions. Founded in 2014 and headquartered in Milan, the company provides platforms that analyze activity across digital banking channels to detect malicious infrastructure, suspicious behavior, and emerging cyber threats. Cleafy’s solutions help financial institutions monitor and mitigate fraud risks while protecting customers and operational systems.
