Trustmi lands $17M to scale its payments fraud prevention tech

Shai Gabay and Eli Ben-Nun, two entrepreneurs based in Israel, met in 2018 while working at Cynet, a cybersecurity startup developing extended detection and response tools. While there, they came to realize that there was a growing need to secure payment transfers, which were becoming increasingly susceptible to fraud and cybercrime.
According to one recent survey, payment fraud affected almost 60% of companies in the U.S. in 2022. And of the companies responding to the survey, over half think payment fraud attempts will increase over the next year.
“Many businesses still rely on manual

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