Memcyco Raises $37M Series A to Disrupt Digital Impersonation and Account Takeover Fraud

Customer-driven funding to accelerate adoption of the only agentless day-zero platform to detect and disrupt account takeover (ATO) attacks before they unfold

BOSTON--(BUSINESS WIRE)--Memcyco, the real-time digital risk protection platform safeguarding enterprises from brand impersonation scams and account takeover (ATO), today announced it has secured $37 million in Series A funding, bringing the company’s total funding to $47 million.

The oversubscribed 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 capital will fuel the global expansion of Memcyco’s agentless platform, which is rapidly replacing reactive fraud defenses with preemptive protection, making digital trust a reality for customers of the world’s largest brands.

Shifting the Battleground: Preempting the Attack

As enterprise perimeter defenses have hardened, attackers are aggressively shifting toward the human layer. AI-driven automation, off-the-shelf phish kits, and one-click website cloning now enable scammers to launch high-volume attacks that deceive customers long before traditional security controls activate. This convergence has created a widening visibility gap for enterprises, which often discover impersonation scams only after customers are already victimized.

ATO attacks spiked 250% in 2024 and 2025, contributing to a projected $343 billion in online payment fraud losses by 2027. Multi-factor authentication (MFA) still plays a critical role, but it typically activates at the login stage, well after the deception has begun. Memcyco closes this gap by infiltrating the attack timeline. Its covert, agentless technology acts before, during, and as customers interact with scams, giving enterprises real-time visibility into victims and attacker behavior and enabling intervention before credentials are stolen or fraud occurs.

“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.”

Validation from Market Leaders

Strong market demand for Memcyco’s protection has driven a threefold year-over-year increase in annual recurring revenue (ARR) and tripled Memcyco’s customer base. The platform has already prevented more than 3.5 million ATO attempts and mapped more than half a billion device identities, demonstrating its ability to scale without adding friction to the user experience.

“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, founder of Pags Group and senior advisor to Bain Capital, added, "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."

Expanding Global Reach

The funding will accelerate Memcyco’s expansion into critical markets, including Latin America, where digital fraud rates are climbing.

"In the LATAM region, financial and consumer markets are facing a sophisticated wave of impersonation scams that traditional tools cannot catch," said Marcos J. Jorge of E. León Jimenes. "Memcyco’s capability to offer preemptive protection without requiring consumers to install new software is a game-changer for adoption in our markets."

About Memcyco
Memcyco delivers real-time, preemptive protection to companies and their customers against phishing, digital impersonation, and account takeover (ATO) fraud. By infiltrating the attack timeline as it unfolds, Memcyco provides unmatched visibility and control, enabling organizations to identify victims, predict incidents, and disrupt attacks before damage occurs. With its agentless deployment and rapid time-to-value, Memcyco reduces fraud-related losses, strengthens compliance readiness, and delivers measurable ROI while safeguarding digital trust. For more information, visit Memcyco - Real-Time Digital Impersonation & ATO Fraud Protection.

About Memcyco’s Investors
Venture Guides: is an early-stage venture capital firm with strong domain expertise in cybersecurity, cloud infrastructure, data, and AI sectors. Venture Guides' unique approach emphasizes active "guiding" across a concentrated portfolio of companies, collocated to deliver greater than 80% success rate. Forbes Midas List and Inc. 5000 rankings have recognized the performance-driven achievement of Venture Guides’ partners 12 times, augmented by an industry-leading 11% GP co-investment.

Capri Ventures: is an early-stage venture capital firm focused on Enterprise Technology. Its team is composed of former software executives and leaders from Fortune 500 enterprises, bringing significant resources early in a company's lifecycle to help drive commercialization and market adoption.

NAventures: is the corporate venture capital arm of National Bank of Canada, takes equity stakes in startups and growing businesses to foster growth in companies that will shape the financial institutions of the future.

E. León Jimenes: Established in 1903, E. León Jimenes is a family-controlled holding company focused on building enduring businesses, primarily across the Americas with an investment portfolio spanning consumer, financial services, healthcare, and technology sectors. With a flexible mandate and long-term perspective, E. León Jimenes partners with entrepreneurs and management teams to support lasting value creation.

PagsGroup: is a single-LP investment firm founded by Steve Pagliuca that manages a diversified portfolio across venture capital, private equity, real assets, and public markets, with a sector focus on biotech and healthcare, sports and consumer, and deep tech.