Trustmi Announces $17M Funding Round to Expand its Fraud Protection Technology
Funding Round Info:
Trustmi has successfully secured $17 million in Series A funding this year, bringing their total funding to date to $21 million. The recent funding round was led by Zeev Ventures, a prominent early-stage venture capital firm known for its investments in technology companies. Additional investment came from Cyberstarts, the sole venture capital company mainly backed by the industry's most accomplished cybersecurity founders. This fresh injection of funds will empower Trustmi to extend its enterprise customer base and enhance its ability to safeguard business payments on a larger scale.
About Trustmi:
Established in Israel in 2021, Trustmi surfaced as an ambitious venture brought to life by the combined expertise and enthusiasm of cybersecurity and fintech enthusiasts Shai Gabay and Eli Ben-Nun. Their paths crossed back in 2018 while they were working at Cynet, and fueled by their shared dedication, they set out on a joint mission to transform the landscape of B2B payments. Delving deep into the intricacies of the industry, the co-founders conducted extensive research and engaged with numerous CFOs from small to large enterprises, including Fortune 500 companies. This thorough examination revealed a pressing demand for a product that could effectively tackle the ever-growing challenge of payment security in both domestic and cross-border transactions, which are notorious for their complexity and vulnerability to fraudulent activities. Trustmi is the only end-to-end payment security solution that helps businesses protect their bottom line by eliminating losses from cyberattacks, internal collusion and human error. Trustmi’s flexible and modular solution offers businesses full control to use only the tools they need for securing their payment processes and managing their vendors.
About Zeev Ventures:
Zeev Ventures is a prominent early-stage venture capital firm known for its strategic investments in innovative technology companies. Founded by Oren Zeev, the firm focuses on identifying and backing startups with groundbreaking ideas and disruptive potential. Zeev Ventures has been involved in funding various successful companies across different sectors, including technology, e-commerce, fintech, and more. One of the defining aspects of Zeev Ventures is its strong track record of supporting transformative startups from their early stages and helping them navigate through critical growth phases. The firm's investment philosophy involves not only providing capital but also offering valuable guidance and expertise to the companies they back.
About CyberStarts:
Founded in 2018, CyberStarts is a venture capital firm based in Mikhmoret, Israel. The firm seeks to invest in the cybersecurity and information technology sectors. Cyberstarts originated from numerous profound discussions with accomplished cyber peers, extracting the holy grail that facilitated the establishment of significant enterprises. The significance of a venture's initial stages in shaping its path to success became evident to the founders.