Digital fraudsters are bypassing enterprise defences and going straight to customers, using AI-powered phishing and website clones. Account takeover attacks were up 250% in 2024-2025, pushing online payment fraud losses to a projected $343B by 2027.
Memcyco’s answer is an agentless, cloud-based platform that jumps into action as soon as scams happen. It gives brands real-time visibility into both victims and attackers, making it easy to disrupt fraud before it does damage.
The Boston-based team just closed a $37M oversubscribed Series A, reaching total funding of $47M. NAventures (National Bank of Canada), E. León Jimenes, and Pags Group (Steve Pagliuca’s family office) led the round, with Capri Ventures and Venture Guides joining.
The fresh capital will scale up globally, with a strong focus on Latin America, where impersonation scams are spiking, and the market is growing rapidly.
Redefining digital trust
CEO Israel Mazin started Memcyco after watching companies pour billions into login security. The company builds proactive shields that scale without slowing users down, helping brands take back control from the very start of an attack.
Mazin shares with TFN, “Memcyco was founded in order to answer that need by shifting protection to an earlier phase in the attack, and by providing real-time visibility and intervention before attacks harm users, rather than after the damage has already been done. There’s an opportunity here to redefine fraud and impersonation defence around timing, not just detection accuracy, and to give enterprises protection that operates while attacks are still in progress.”
Memcyco’s stealthy tech has mapped over 500 million device identities and blocked more than 3.5 million account takeover attempts. It catches phishing sites the moment customers interact, cutting fraud losses and giving compliance teams a real ROI boost.
Mazin notes, |Memcyco is designed to protect against fraud that is delivered through phishing and impersonation, by disrupting live attacks while they are in progress. Memcyco feeds attackers with marked decoy credentials when they attempt to harvest legitimate user credentials. This protects accounts and disrupts attacker workflows by exposing bad actors when those decoys are used.”
He further elaborates, “Memcyco also supports proactive deception techniques that divert attackers into controlled dead ends, reducing the effectiveness of active scams. It operates in an agentless model, enabling real-time protection without end-
user installation or added user friction.”
While SIEM or EDR tools react after a breach and MFA waits at the login page, Memcyco steps in before the login, profiling both victims and attackers. Unlike PhishLabs, ZeroFox, Netcraft, BioCatch, ThreatMetrix, Transmit Security, Memcyco stops scams before the deception even starts.
What’s next?
With this new funding, Memcyco aims to make agentless preemption the global standard, especially as AI-powered scams get faster and smarter every day.
Mazin concludes, “Our goal is to continue extending preemptive and proactive fraud prevention to additional industries and digital touchpoints, reflecting the expanding scope of impersonation-driven risk.”
TFN contacted Memcyco for comment regarding diversity and inclusion; no response was received at the time of publication.
