Memcyco, a digital risk protection platform focused on stopping brand impersonation scams and ATO fraud, has announced fresh funding of $37m.
The company said it has raised $37m in a Series A round. The oversubscribed raise was led by new investors NAventures, E. León Jimenes, and PagsGroup with participation from existing investors Capri Ventures and Venture Guides.
Memcyco positions itself as a pre-emptive alternative to traditional fraud and security approaches, arguing that attackers are increasingly targeting customers through deception and impersonation before standard controls kick in. It says its “agentless” and covert technology is designed to provide enterprises with real-time visibility into scam activity and behaviour, allowing intervention before credentials are stolen or fraud occurs.
The business said the new capital will be used to support global expansion of its platform, with the aim of replacing what it describes as reactive fraud defences with earlier-stage disruption that can reduce customer harm and protect brand trust.
In its announcement, Memcyco highlighted the broader shift it sees in the threat landscape, pointing to the growing use of AI-driven automation, phishing kits and fast website cloning to enable high-volume impersonation attacks. It also cited industry-wide estimates that ATO activity has surged and that online payment fraud losses could rise sharply by 2027.
Memcyco also pointed to recent business momentum, saying demand has driven a threefold year-over-year increase in annual recurring revenue and a tripling of its customer base. It added that it has already prevented more than 3.5 million ATO attempts and mapped more than half a billion device identities, as it seeks to scale without adding friction for end users.
Memcyco CEO and co-founder Israel Mazin said, “Enterprises have spent billions building fortress walls around their login pages, but attackers have moved the battlefield,” said Israel Mazin, CEO and co-founder of Memcyco. “We are shifting the paradigm from reactive takedowns to proactive, real-time disruption. Our technology infiltrates the attack timeline, identifying the victim and the bad actor instantly to prevent damage before it starts.”
NAventures’ Joshuah Lebacq said, “As both a customer and an investor, we have experienced how Memcyco enhances protection and streamlines processes,” said Joshuah Lebacq of NAventures. “Financial institutions are motivated to boost efficiency while safeguarding clients. Memcyco provided value by delivering clear, reliable insights and preventing issues before they arise, a unique solution in the market that strengthens our suite of digital safety tools.”
Steve Pagliuca said, “The speed at which digital impersonation is scaling is an existential threat to the digital economy. The market is filled with solutions that clean up the fraud mess after an event. Memcyco is unique because it prevents the mess entirely. This is the right team with the right technology to define next-generation digital trust.”
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