Trustfull has raised EUR 6 million in funding, led by Seaya Ventures and Elevator Ventures, with participation from existing investor United Ventures.
Trustfull offers a comprehensive fraud prevention platform powered by open-source intelligence. Its advanced AI agents analyse hundreds of digital signals from users’ phone numbers, emails, IP addresses, and web domains to assess risk in real time, increasing KYC, KYB, and AML processes. Enterprise clients of Trustfull include Nexi, Ing Bank, Scalapay, Elavon, Cofidis, AirHelp, and Sisal.
Seaya Ventures supports startup growth by utilising the founder's strategic vision and offering a global platform, an extensive network of founders, investors, and corporations. The firm draws on its experience with companies like Glovo, Cabify, Wallbox, and others for global expansion.
Strategic objectives
The new funding will allow Trustfull to accelerate its expansion throughout Europe by growing its sales and marketing teams and diversifying its product offerings to help clients address emerging forms of fraud. This investment arrives at an important moment for the global fraud detection and prevention market, which is expected to experience significant growth, nearly tripling from USD 33.1 billion in 2024 to USD 90 billion by 2030. This surge is driven by a heightened demand for technology capable of thwarting the rise of AI-driven fraud, including synthetic identity attacks, deepfake scams, and large-scale phishing campaigns.
The funding will solidify Trustfull's presence in Italy, Spain, and France, while also expediting its entry into other high-potential European markets. This investment will increase the development of advanced fraud detection features and accelerate the implementation of Trustfull's current solutions for account opening protection and prevention of account takeovers.
Future projections
Trustfull is on track to process more than 100 million checks each year by the end of 2025. This growth is fueled by the extensive adoption of its solutions across various sectors, including banking, payments, travel, ecommerce, and iGaming.
