Trustfull has secured EUR 6 million in funding, with Seaya Ventures and Elevator Ventures leading the investment round. United Ventures also participated as an existing investor.

This fraud prevention platform uses open-source intelligence to offer advanced AI analysis of various digital signals such as phone numbers, emails, IP addresses, and web domains, enhancing real-time risk assessment for KYC, KYB, and AML processes. Major clients include Nexi, Ing Bank, Scalapay, Elavon, Cofidis, AirHelp, and Sisal.

Seaya Ventures aids startup growth through leveraging founders’ strategic visions and providing a global platform with an extensive network of founders, investors, and corporations. The firm has experience working with companies like Glovo, Cabify, Wallbox, and more for international expansion.

Strategic Objectives

The fresh funding will enable Trustfull to intensify its European expansion by expanding sales and marketing teams and broadening product offerings to tackle new fraud threats. This timing is crucial as the global fraud detection market is projected to grow significantly, increasing nearly threefold from USD 33.1 billion in 2024 to USD 90 billion by 2030 due to heightened demand for technologies capable of combating AI-driven fraud such as synthetic identity attacks, deepfake scams, and large-scale phishing campaigns.

The investment will strengthen Trustfull’s position in Italy, Spain, and France while accelerating its entry into other promising European markets. This funding will also drive the advancement of sophisticated fraud detection features and expedite the deployment of current solutions aimed at protecting account openings and preventing account takeovers.

Future Projections

By 2025, Trustfull aims to process over 100 million checks annually. This growth is underpinned by widespread adoption across sectors including banking, payments, travel, ecommerce, and iGaming.