Swiss startup Cybera closes capital round with US investors

Wednesday 21 September 2022 11:21 CET | News

The US-based startup Cybera Global, originally founded in Switzerland, has raised additional funds of CHF 5 million in a further financing round. 

The round of capital was completed under the leadership of the US VC Converge VC and New North Ventures. Venture capitalist Founder Collective and other VCs, angel, and private investors were also involved. According to moneycab, the cyber security startup has already reported more than 2000 bank accounts and crypto wallets linked to cybercrime and money laundering to law enforcement and financial institutions.

Aim of the financing

The company was also able to attract investors such as René Brülhart, a former financial supervisor in the Vatican, and Marcel Rohner, former head of UBS and today President of Swiss Banking. The additional funds will help advance Cybera's aim to fight cybercrime, such as business email compromise (BEC) fraud and romance scams, in the financial sector. 


Cybera Global’s prevention technology 

According to a Cybera Global representative, they aim to bring more speed, consistent internationality, and comprehensive prevention into the investigation system with Cybera. This aim is divided into ‘prevention’ and ‘response’. To prevent cybercrime, Cybera uses a global reporting platform (CYBERCRIME COMPLAINT).

With this technology, criminal activities should be reported more quickly to domestic and foreign authorities using innovative technology. This is done through transaction monitoring, onboarding, and KYC, as well as intelligence and investigations. It works with a Cybercrime Watchlist, which is a global dataset to detect and prevent cyber-related financial crime, scams, and money laundering, in order to reduce victim losses, costs & regulatory risk. Information is sourced in real-time from official victim complaints and mule accounts are tracked, stopped, and alerted.

Cybera Global’s response technology 

In order to respond to cybercrime, Cybera makes use of the CYBERCRIME COMPLAINT service, which enables cybercrime reporting and coordinated global response to recover stolen funds. This service provides legal aid to support victims, by sharing criminal complaints with beneficiary institutions and law enforcement, assisting in the effort to recover funds and reduce money laundering.

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Keywords: investment, financing , fraud management, fraud detection, online fraud, financial crime, cybercrime
Categories: Fraud & Financial Crime
Companies: Cybera
Countries: Switzerland, United States
This article is part of category

Fraud & Financial Crime


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