Memcyco is a digital security platform that protects companies from brand impersonation scams and account takeovers. The company has raised $37 million in Series A funding, taking its total funding to $47 million.
The funding round was oversubscribed, meaning there was strong investor interest.
The round was led by new investors NAventures (the venture arm of the National Bank of Canada), E. León Jimenes, and PagsGroup, the family office of Steve Pagliuca. Existing investors Capri Ventures and Venture Guides also participated.
The new funds will be used to expand Memcyco globally. Its platform helps companies stop fraud before it happens, replacing traditional reactive security methods and building digital trust for customers of large global brands.
As companies strengthen their security systems, attackers are increasingly targeting people rather than systems. With the help of AI tools, ready-made phishing kits, and easy website cloning, scammers can quickly launch large-scale attacks that trick customers before traditional security systems even notice.
Because of this, many companies only find out about scams after customers have already been affected. Account takeover (ATO) attacks increased by 250% in 2024 and 2025, and online payment fraud losses are expected to reach $343 billion by 2027. While multi-factor authentication (MFA) is important, it usually works only at the login stage—after the scam has already started.
Memcyco solves this problem by detecting and stopping scams earlier. Its agentless technology works quietly in the background giving companies real-time insight into scam activity and attacker behavior. This allows businesses to step in before customer data is 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.”
“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.”
Memcyco was founded by Israel Mazin (CEO), Gideon Hazam (COO), Ori Mazin (CRO), and Eli Mashiah (CTO). The founders have strong experience in building and selling successful companies, including Memco Software, which was sold for over $500 million in 1999.
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