Memcyco, a real-time digital risk protection platform, focused on stopping brand impersonation scams and ATO fraud, has announced fresh funding of $37m.
The firm said it has secured $37m in an oversubscribed Series A round led by new investors NAventures, the corporate venture arm of National Bank of Canada, E. León Jimenes, and PagsGroup, the family office of Steve Pagliuca, with participation from existing backers Capri Ventures and Venture Guides.
Memcyco offers an “agentless” approach to detecting and disrupting digital impersonation attempts, aiming to give enterprises visibility into scams as they unfold and intervene before credentials are stolen or customers are defrauded, without adding friction to users.
The company said the new capital will be used to accelerate global expansion of its platform, as it seeks to move organisations away from reactive fraud responses and towards earlier, real-time disruption of attacks.
Memcyco argued that as traditional perimeter security has improved, criminals have shifted tactics towards exploiting people, helped by AI-driven automation, phishing kits and rapid website cloning. The company cited a 250% spike in ATO attacks across 2024 and 2025, alongside forecasts that online payment fraud losses could reach $343bn by 2027. It also claimed commercial traction, pointing to a threefold year-on-year rise in annual recurring revenue and a tripling of its customer base, alongside more than 3.5 million ATO attempts prevented and over half a billion device identities mapped.
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,” and added, “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.”
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