Memcyco, an Israeli cybersecurity company founded in 2021, has raised $37 million in a Series A funding round to expand its pre-emptive fraud defence platform.

The round was led by NAventures, the venture arm of National Bank of Canada, and included E. León Jimenes, Pags Group, Capri Ventures and Venture Guides. The company says the round was oversubscribed. With this raise, Memcyco has secured about $47 million in total funding.

The goal is clear. Scale adoption of a platform built to stop impersonation scams and account takeover attacks while they are happening, not after.

Why this problem is getting harder

According to figures cited by Memcyco, account takeover attacks increased by roughly 250 percent between 2024 and 2025.

At the same time, online payment fraud losses are projected to reach more than $340 billion by 2027.

These numbers explain why traditional fraud tools are struggling. Many solutions trigger alerts only after credentials are stolen or transactions are attempted. By then, the damage is often done.

Memcyco’s positioning is earlier in the attack timeline.

How the platform works

Memcyco provides what it describes as an agentless solution. No software needs to be installed on customer devices.

The platform continuously monitors for signs of impersonation scams, phishing attempts and takeover activity as users interact with digital services. When suspicious signals appear, it provides real-time alerts and context so organisations can intervene before financial harm occurs.

Since its founding, Memcyco says it has already prevented millions of account takeover attempts and indexed hundreds of millions of device identities.

Those usage figures are central to its pitch. Detect scams while customers are still in the journey, not after fraud has been completed.

Expansion beyond existing markets

Part of the new funding will support global expansion, with a particular focus on Latin America.

Investors pointed to rising sophistication of cyber-fraud in the region and the difficulty traditional tools have in detecting impersonation-based attacks. Memcyco sees this as a strong entry point for its technology.

The funding will also support broader enterprise adoption as financial institutions and digital businesses look for ways to strengthen customer protection.

What this signals for fintechs

Fraud is moving closer to the customer experience layer. It is no longer only a backend risk or a payments problem.

Impersonation scams and takeover attempts happen while users browse, click, and interact with legitimate services. That is where Memcyco is positioning its defence.

Investor interest in this category shows that pre-emptive digital risk protection is becoming a priority area for banks, fintechs and online platforms.

Key takeaways for fintech startups

Here are a few observations fintech founders should note from this raise:

• Memcyco raised $37 million to scale a platform focused on real-time, pre-emptive fraud detection
  
  
• Account takeover attacks have grown sharply, pushing companies to rethink when fraud detection should happen
  
  
• The solution operates without requiring software on user devices, reducing friction
  
  
• Expansion into Latin America reflects where impersonation fraud is rising quickly
  
  
• Investors see early-stage intervention as an important direction for fraud defence

If fraud prevention, customer protection, or security strategy is becoming a bigger topic in your roadmap, contact us to discuss how to think about this layer in your product and operations.