Cleafy raises €12M to stop bank fraud before it starts

The Milan cybersecurity firm’s Series B bets that predictive defence, not reactive detection, is how banks survive the AI fraud wave

For more than a decade, Cleafy has been telling banks that waiting for fraud to happen before responding to it is a losing strategy. The Milan-based cybersecurity firm has now raised €12 million in a Series B round, bringing total funding to €22 million, to prove the point at scale.

The round is co-led by United Ventures and Germany’s eCAPITAL, both returning investors. The capital will go towards accelerating Cleafy’s predictive security capabilities, expanding global threat intelligence, and deepening its footprint in banking markets across Europe and Latin America.

Founded in 2014 by Matteo Bogana, Niccolò Pastore, and Carmine Giangregorio, all alumni of Milan’s Politecnico, Cleafy was built around a specific frustration: conventional fraud tools operate in silos, analysing isolated transactions against static rules. By ...