Memcyco, a real-time digital risk protection platform focused on stopping brand impersonation scams and account takeover attacks, has raised $37 million in Series A funding, bringing total funding to $47 million. The round was 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 investors Capri Ventures and Venture Guides.
The company said the round was oversubscribed and will be used to expand globally and accelerate adoption of its agentless platform, which it positions as preemptive protection that detects and disrupts account takeover attempts before fraud unfolds.
Memcyco framed the financing as customer-driven and aligned with demand from enterprises seeking earlier visibility into impersonation-driven attacks, particularly as automated tooling and website cloning make scam deployment faster and harder to catch after victims have already engaged.
Memcyco argued that as organizations reinforce perimeter and login defenses, attackers are shifting toward deception that targets customers earlier in the journey. The company said this creates a visibility gap, as enterprises often learn about impersonation campaigns only after customers have been harmed. While multi-factor authentication remains an important control, Memcyco emphasized that it typically engages at login, after the scam has already done its work. The company’s approach is designed to operate earlier, during customer interactions, to identify victims and attacker behavior in real time and enable intervention before credentials are captured or transactions occur.
The company cited momentum it attributes to this positioning, including a threefold year-over-year increase in annual recurring revenue, a tripling of its customer base, preventing more than 3.5 million account takeover attempts, and mapping more than half a billion device identities. It also highlighted scaling without adding user friction, pointing to agentless deployment and rapid time-to-value as core to adoption.
Memcyco said the new capital will help it expand into additional regions, including Latin America, where it believes fraud rates are rising and where frictionless deployment could accelerate uptake in financial and consumer markets. The company also positioned its platform as contributing to compliance readiness and measurable return on investment by reducing fraud-related losses while strengthening digital trust for major brands and their customers.
KEY QUOTES
“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.”
Steve Pagliuca, Founder of Pags Group and Senior Advisor to Bain Capital
“Enterprises have spent billions building fortress walls around their login pages, but attackers have moved the battlefield. 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.”
Israel Mazin, CEO and Co-Founder, Memcyco
“As both a customer and an investor, we have experienced how Memcyco enhances protection and streamlines processes. 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.”
Joshuah Lebacq, NAventures
“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.”
Steve Pagliuca, Founder of Pags Group and Senior Advisor to Bain Capital
“In the LATAM region, financial and consumer markets are facing a sophisticated wave of impersonation scams that traditional tools cannot catch. Memcyco’s capability to offer preemptive protection without requiring consumers to install new software is a game-changer for adoption in our markets.”
Marcos J. Jorge, E. León Jimenes
