TLDR: Italian startup Trustfull has successfully raised €6 million in a funding round to accelerate its European expansion and enhance its AI-driven fraud prevention solutions. The investment, led by Seaya Ventures and Elevator Ventures with continued support from United Ventures, will fuel growth in sales, marketing, and product development to combat evolving fraud threats.
Trustfull, an innovative Italian startup specializing in seamless fraud prevention technology, has announced the successful closure of a €6 million funding round. This significant investment is earmarked for the company’s ambitious European expansion, focusing on scaling its sales and marketing operations and broadening its product portfolio to address the increasingly sophisticated landscape of fraud threats.
Founded in 2020, Trustfull has rapidly established itself with an advanced fraud prevention platform built upon open-source intelligence. Its core strength lies in an AI-driven system that meticulously analyzes hundreds of digital signals, including phone numbers, email addresses, IP addresses, and web domains. This real-time risk assessment capability significantly enhances crucial processes such as Know Your Customer (KYC), Know Your Business (KYB), and Anti-Money Laundering (AML).
Marko Maras, CEO of Trustfull, expressed enthusiasm about the new partnerships, stating, ‘We’re excited to welcome Seaya Ventures and Elevator Ventures as new investors in Trustfull, and grateful for the continued support of United Ventures as an existing shareholder. This new round is a strong validation of our mission to help businesses strike the right balance between fraud prevention and seamless customer experience, and it reflects our proven track record delivering measurable impact for enterprise clients.’
The company is on a trajectory to process over 100 million checks annually by the end of 2025, a testament to the widespread adoption of its solutions across diverse sectors. Trustfull’s enterprise client roster includes prominent names in banking and payments like Nexi, Ing Bank, Scalapay, and Elavon, as well as companies in travel (AirHelp), e-commerce, and iGaming (Sisal).
This funding arrives at a critical juncture for the global fraud detection and prevention market, which is projected to nearly triple from $33.1 billion in 2024 to an estimated $90 billion by 2030. This substantial growth is primarily driven by the escalating demand for advanced technologies capable of countering the surge in AI-driven fraud, which encompasses threats ranging from synthetic identity attacks and deepfake scams to large-scale phishing campaigns.
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Aris Xenofontos, partner at Seaya Ventures, underscored Trustfull’s innovative approach, remarking, ‘We believe Trustfull is rewriting the rules of fraud prevention through real-time and AI-powered risk intelligence. Their unique ability to analyze hundreds of digital signals with speed and precision positions them as a true category leader in Europe’s TrustTech ecosystem.’ The investment round was spearheaded by Seaya Ventures and Elevator Ventures, with the continued participation of existing investor United Ventures.
