As users increasingly prefer mobile applications over computers, attackers are shifting their focus to mobile devices. However, many company executives perceive security costs as a necessary expense with only indirect impacts on revenue. Czech startup Talsec seeks to alter this perception by offering specialized tools for app developers. These tools are designed to protect against hackers, safeguard sensitive information, and detect malicious software.
Originally emerging as a spin-off from the Brno-based technology company Monet+, Talsec has experienced two years of organic growth. Now, it has secured a €1 million investment in its first funding round from London-based Dig Ventures and Czech DEPO Ventures. This funding is earmarked to accelerate its expansion into the global market and facilitate further development.
Talsec serves as a security agent embedded within mobile applications, currently safeguarding over a thousand applications across various sectors. Its clientele includes insurers such as Generali and VIG, fintech firms like BrasilCard, by.U, Novücard, and even governmental organizations like the Czech Ministry of the Interior. Talsec’s popularity among developers stems from its ability to protect mobile apps against significant threats and its adherence to best security practices. The company’s freemium B2B business model and easy implementation further contribute to its appeal.
The global mobile banking market, valued at 773 million USD in 2022, is projected to grow to 1.8 billion USD by 2030, with an average annual growth rate of approximately 12%. Neobanking is poised to capture a growing share of this market as new players challenge traditional banks. Fintech investments soared to 75 billion USD two years ago, reflecting the industry’s rapid expansion and potential for further growth.
Sergiy Yakymchuk, Founder and CEO of Talsec said, “We decided to enter the market with a product that offers protection for mobile-first businesses, with an initial focus on fintechs. We want Talsec, with its freemium toolkit, to become standard for developers needing to ensure the security of their applications and their users. This year, we are on track to multiply our audience and revenue and significantly expand awareness of our products within the developer community.”
With over fifteen years of experience in security software and a decade spent managing security products at companies such as Gemato and Thales, this Ukrainian native brings a wealth of expertise to the table.
The startup has garnered numerous awards and accolades. Google recognized the company as one of 17 global startups leveraging artificial intelligence to revolutionize cybersecurity. Talsec’s AppiCrypt project earned the esteemed Ernst & Young ESO Cyber Space Innovation award, and it was also chosen among the Top 50 by 4YFN at the Mobile World Congress.
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