Coimbra startup Ethiack bolsters presence in financial sector

Coimbra-based cybersecurity startup Ethiack has won new clients in the insurance and financial sectors including Ifthepay, Lusitania and Coverflex.

These new clients in the financial sector join the 70 clients that Ethiack already has in nine countries.

Ethiack is a company that operates in the cybersecurity and digital data assets protection domains.

“These partnerships highlight the confidence that financial institutions have in Ethiack to strengthen their digital resilience and meet the requirements of the new European Directive DORA (Digital Operational Resilience Act)

Last year, Ethiack had a business turnover of more than €1 million and aims to reach €3 million in the short term.

Founded in 2022 by three ‘ethical hackers’ André Baptista, Jorge Monteiro, CEO, and Vítor Pinho, Ethiack has an innovative platform that combines manual tests carried out by a team from Ethical Hackers with Automation and Artificial Intelligence to undertake continuous, precise and impactful security tests in real time, as well as issuing reports in compliance with the new European and international cybersecurity regulations, namely CRA, DORA and NIS2.

In this context, Ethiack’s solution stands out as an essential tool to help companies and financial institutions, fintechs and insurtechs prepare for regulatory challenges, by identifying vulnerabilities before they are exploited, ensuring not only regulatory compliance, but also the protection of its customers and the integrity of its systems.

Image: Co-founders and ‘ethical hackers’ André Baptista, Jorge Monteiro, CEO, and Vítor Pinho.