Acoru raises €10M for AI fraud prevention

Banking fraud is changing fast. Madrid-based Acoru just secured €10 million in Series A funding to tackle AI-powered scams before they happen. With fraud losses approaching $500 billion annually, the startup’s pre-emptive approach matters for European financial institutions racing to meet tighter regulations.

The round was led by 33N Ventures, with participation from existing investors Adara Ventures and Athos Capital. The funding will accelerate technology development, expand the team, and help banks comply with new regulatory requirements like PS23/4 and PSD3.

How AI fraud prevention works in real-time

Unlike traditional systems that react after transactions occur, Acoru’s Account Monitoring Platform detects criminal intent before money moves. The system continuously analyzes banking activity across all channels, monitoring not just individual accounts but every account they interact with.

“AI has changed the face of fraud and money laundering,” said Pablo de la Riva Ferrezuelo, CEO and co-founder. “You simply cannot expect technology built in 2010 to combat fraud happening in 2025.”

The platform identifies suspicious patterns through subtle signals: micro-transactions, unusual behaviors, and automated AI-driven activity. Banks can then intervene early, blocking suspicious activity and freezing complicit accounts. Acoru also enables banks to share account risk classifications, creating collective defense against fraud.

Carlos Moreira da Silva, Partner at 33N, noted that voluntary fraud has become one of the most damaging challenges in today’s financial system. “These scams are notoriously difficult to detect and stop, and with the rise of AI, they will only become more frequent, more sophisticated, and more impactful.”

Veterans targeting Europe’s fraud epidemic

Founded in December 2023, Acoru brings serious pedigree to the fight. Co-founders Pablo de la Riva Ferrezuelo and David Morán previously built Buguroo (later Revelock), which Feedzai acquired. That company monitored over 400 million devices for 120 million users worldwide.

The timing is critical for European banks. Authorized Push Payment fraud now accounts for roughly 70% of total banking fraud worldwide, with victims tricked into willingly transferring money to fraudsters. Generative AI tools like deepfakes and voice cloning have made these scams devastatingly convincing.

Acoru competes in a crowded space alongside Featurespace, Darktrace, and Sift. Its differentiator is the consortium model, enabling secure intelligence sharing between institutions without compromising data privacy.

Since launch, the company has grown to over 30 employees and established partnerships with banks and financial institutions globally. The fresh capital will fuel international expansion across Europe and the Americas while strengthening the platform’s predictive capabilities.