Unfraud, a Rome, Italy-based developer of an antifraud platform, raised €100k in seed funding.
TIM Ventures, Corporate Venture Capital of Telecom Italia, made the investment.
The company will use the funds to expand operations.
Co-founded by Armando Monaco, Vincenzo Paduano, and Andrea Puzo, Unfraud leverages artificial intelligence to allow online businesses to constantly monitor a user’s activity, detect transaction frauds and prevent fraudulent activities.
The software defines behaviour dynamic models and alert the system to prevent frauds.
The company was part of TIM #WCAP 2014.