Trustmi, an Israeli cybersecurity fintech company, has recently emerged from stealth mode and proudly announced the successful completion of a $17 million Series A financing round. The funding was led by Zeev Ventures, a prominent venture capital firm, with participation from Cyberstarts.
This latest injection of funds brings Trustmi’s total raised capital to $21 million since its inception in 2021 by the visionary CEO, Shai Gabay, and the talented CTO, Eli Ben-Nun. The considerable financial backing will fuel the company’s plans to expand its enterprise customer portfolio and bolster its mission to safeguard business payments on a large scale.
Launching a Cutting-edge Business Payments Security Platform
As part of its remarkable growth, Trustmi has introduced its state-of-the-art business payments security platform. This innovative solution is designed to assist businesses in safeguarding their payments against various threats, including cyberattacks, internal collusion, and human errors. The platform ensures that payments are accurately directed to their intended recipients, minimizing potential losses.
A Holistic Approach to Payment Protection
Trustmi stands out by adopting a holistic approach to address the inherent fragmentation in payment processes. The company’s platform offers a flexible solution that seamlessly integrates into existing organizational workflows. By connecting all relevant data across the payment process, Trustmi can efficiently detect and eliminate instances of fraud and errors.
The Power of the Trust Network
One of Trustmi’s unique features is its Trust Network, an invaluable resource that harnesses the collective power of crowd-sourced data from thousands of vendors and businesses. This collaborative effort enables the identification of vulnerabilities and suspicious signals, thereby maximizing protection for business payments.
In addition to its impressive array of features, Trustmi also streamlines audit preparations, sets robust financial reporting standards, ensures data protection, and maintains vigilant monitoring for potential breaches. Notably, the platform’s payment approval workflow empowers users to flag errors and attacks promptly, enabling easier identification of recurring issues for swift resolution.
“We offer a one-week assessment where historical data is captured to establish a vendor digital fingerprint. This allows us to flag deviations and changes in the vendor’s information and banking details,” explained Shai Gabay. “By capturing a complete view of the payment data flow and analyzing hundreds of data points, we uncover vulnerabilities and eliminate threats effectively.”
Building Trust through Partnership
Trustmi emphasizes its commitment to being more than just a platform; it positions itself as a trusted partner to businesses seeking to enhance their security measures. CEO Shai Gabay emphasizes that Trustmi’s ambition is to redefine the global security market and leverage its full potential to address the critical challenges faced by businesses today. The company’s efforts are already proving successful, with numerous clients benefiting from substantial savings achieved through prevention of financial losses and optimization of money transfer processes.
Empowering Businesses Seamlessly
CTO Eli Ben-Nun stresses that Trustmi understands the diverse needs of businesses and acknowledges that safeguarding business payments should not disrupt established workflows. Instead, Trustmi’s core mission is to empower businesses by seamlessly enhancing their vendor payment security, providing peace of mind without unnecessary disruptions.
Callout: Protect Your Business Payments with Trustmi
With the rising threat of cyberattacks and financial fraud, businesses need robust solutions to safeguard their payments. Trustmi’s end-to-end business payments security platform offers a flexible and seamlessly integrated approach, underpinned by the power of the Trust Network. Partner with Trustmi to protect your business payments and gain peace of mind.
Israeli cybersecurity fintech company Trustmi has successfully raised $17 million in a Series A financing round, bringing its total funding to $21 million. The company aims to expand its enterprise customer portfolio and enhance business payments protection. Trustmi’s newly launched security platform provides end-to-end solutions to combat cyberattacks, internal collusion, and human errors in payment processes. Its unique Trust Network leverages crowd-sourced data to maximize payment protection. Trustmi positions itself as a partner rather than just a platform, empowering businesses to secure vendor payments without disrupting workflows.
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