Predicting scams and halting fraud – Spanish cybersecurity platform Acoru raises €10 million

Madrid-based cybersecurity startup Acoru has secured €10 million in Series A funding to combat AI-powered fraud and money laundering. The platform aims to help banks proactively predict and prevent scams before transactions are initiated, reflecting a broader trend in Europe towards bolstering defenses against financial crime. This investment highlights the growing importance of advanced cybersecurity measures in the financial sector. The funding round was led by 33N Ventures, with participation from existing investors Adara Ventures and Athos Capital. Acoru's technology focuses on pre-fraud detection and intent-based risk scoring, distinguishing it from transaction-centric solutions. This approach enables banks to classify accounts and predict potential risks. Acoru's solution directly impacts financial institutions, including banks and other financial service providers, as well as their customers. By offering proactive fraud detection, the platform helps protect individuals and families from financial losses. This also supports compliance with evolving banking regulations. Acoru's Series A round follows a pattern of European investments in AI-driven fraud and financial crime prevention. This highlights the ongoing need for advanced solutions to tackle the increasing sophistication of AI-enabled fraud.