Matworks

What Matworks does

Matworks, operating under the legal entity Maiva Services Ltd (registration HE421474), is a Cyprus-based IT managed services provider founded in 2009 and headquartered in Limassol. The company delivers IT, cloud, and IT operational services to financial institutions — including banks, digital banks, payment service providers, FX brokers, and other financial service institutions — and has expanded into adjacent verticals such as government, education, and shipping. Its core offerings include Cloudflare Magic Transit-based DDoS protection, ISO 27001-aligned cybersecurity readiness assessments, cloud infrastructure consulting, 24x7 monitoring and support, managed IT services, data security and protection, and PaaS/SaaS hosting for financial sector platforms.

Matworks monetizes through a mix of managed services contracts, professional services engagements, and recurring subscription models (notably usage-based bandwidth plans for DDoS protection), with all pricing quote-based and not publicly disclosed. Its technology stack is built on partnerships with Cloudflare (Network Partner), Microsoft (Gold Partner), and AWS, providing access to enterprise-grade anycast network infrastructure (200+ cities, 59+ Tbps capacity), the Microsoft cloud and productivity ecosystem, and AWS cloud services. The company sells through a consultative, enterprise-focused direct sales motion, primarily targeting financial services clients in Cyprus and the broader EMEA region, with a stated global footprint. Notable named customers include CDB Bank (4-year engagement), CL8, Carta Worldwide, Cashline Money Transfer, Olympus Bank, GT Group, and Hermes Bank.

The company is privately held, with no disclosed funding, headcount, or revenue figures. Strategic emphasis since 2023 has shifted toward a dedicated cybersecurity department built around the Cloudflare, Microsoft, and AWS partnership stack, alongside continued PaaS/SaaS hosting growth in the financial services vertical. Leadership is anchored by CEO Mate Ivanszky.

Name

Matworks

Legal name

Maiva Services Ltd

Website

https://matworks.cloud

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

11–50 employees

Short description

Matworks is a Cyprus-based managed IT, cloud, and cybersecurity services provider founded in 2009, serving banks, payment service providers, FX brokers, and other financial institutions across the EMEA region through Cloudflare, Microsoft, and AWS-powered solutions.

Ownership category

akta.pro rank

Product category

Managed IT Services

NAICS

Computer Systems Design and Related Services (54151), Computer Facilities Management Services (541513), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Computer Programming Services (7371)

akta.pro primary industry

Cloud Security Managed Services (CSPM/CWPP/CNAPP) (BPAEADAF)

akta.pro secondary industries

Edge Security Delivery (DDoS, WAF, Bot Mitigation at Edge) (HDABAGAH), Endpoint Security Managed Services (EDR/XDR) (BPAEADAH), Industry/Vertical Cloud Platforms (e.g., Gov/Healthcare/Financial Cloud Regions) (HDABAAAL)

Keywords

• Managed IT services
• Cloud infrastructure services
• DDoS protection services
• Cybersecurity assessments
• PaaS SaaS hosting

Headquarters

HQ city

Káto Polemídia

HQ country

Cyprus

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Managed IT Services: Comprehensive managed IT services including cloud migration, IT operations monitoring, managed security, data backup and recovery. Offered as fully outsourced solution or to complement in-house resources.
2. Cloud Infrastructure Consultation: End-to-end managed cloud and hybrid infrastructure solutions including restructuring, modernization, and optimization services.
3. DDoS Protection Services: DDoS attack prevention and mitigation services using Cloudflare Magic Transit technology, including network protection, traffic acceleration, and 24x7 SOC monitoring.
4. Cybersecurity Services: Cybersecurity readiness assessments, penetration testing, data protection, and privacy solutions aligned with data governance frameworks.
5. PaaS/SaaS Hosting: Platform and SaaS hosting services for financial institutions including digital banks, payment service providers, FX companies, and other financial services institutions.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Matworks delivers managed IT, cloud infrastructure, and IT operational services to financial institutions such as banks and payment services companies. Core offerings include DDoS attack prevention (powered by Cloudflare Magic Transit), cybersecurity readiness assessments aligned with ISO 27001, 24x7 monitoring and support, cloud migration and hybrid infrastructure modernization, data security and protection, and PaaS/SaaS hosting for digital banks, PSPs, and FX firms.

Product overview

Matworks is an IT services company offering a portfolio of managed services rather than a single unified product. The core offerings include Cloudflare Magic Transit (DDoS protection via Cloudflare's global network), Cyber Security Readiness Assessment (vulnerability assessment and penetration testing following ISO 27001 methodology), Cloud Infrastructure & Consultation, Monitoring & Support, Managed Services, Data Security & Protection, and DDoS Attack Prevention. The company also provides PaaS/SaaS hosting for financial institutions. Services are delivered as standalone offerings that can be selected individually or combined into a complete managed IT solution.

Differentiator

Problem solved

Functional benefit

Products and services

• Cloudflare Magic Transit Network security solution offering DDoS protection, traffic acceleration, and network protection for on-premise, cloud-hosted, and hybrid networks using Cloudflare's global anycast network with sub-3-second mitigation.
• Cyber Security Readiness Assessment Cybersecurity assessment service that evaluates organizational information systems and security measures to identify vulnerabilities and threats, optionally including penetration testing, aligned with ISO 27001 guidelines.
• Cloud Infrastructure & Consultation End-to-end managed cloud and hybrid infrastructure solutions for restructuring, streamlining, and modernizing organizational infrastructure, delivered by Matworks' team of experts.
• Managed Services Comprehensive managed IT services including cloud migration, IT operations monitoring, managed security, and data backup and recovery, available as full outsourcing or to complement in-house resources.
• Monitoring & Support 24/7 ongoing monitoring, maintenance, and support services ensuring maximum availability and performance of customer IT infrastructure.
• Data Security & Protection Full range of data protection services including cybersecurity and data privacy solutions, aligned with data governance frameworks, for small to large organizations globally.
• PaaS/SaaS Hosting Platform and software hosting services for financial institutions including digital banks, payment service providers, FX companies, and other financial services institutions.

Quantifiable outcome

• Sub-3-second DDoS threat detection and mitigation
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered core and supporting.

• CloudflarecoreTechnology or IntegrationStrategic partnership providing Cloudflare Magic Transit DDoS protection technology. Matworks offers network security, traffic acceleration, and mitigation services leveraging Cloudflare's global infrastructure spanning 200+ cities with 59+ Tbps capacity. Matworks is a Cloudflare Network Partner providing always-on and on-demand DDoS protection with sub-3-second mitigation times.
• MicrosoftcoreTechnology or IntegrationGold Microsoft Partner status demonstrating expertise in Microsoft technologies. Matworks provides Microsoft-based technology solutions including cloud infrastructure, application development, and maintenance services. The partnership enables delivery of enterprise Microsoft solutions to financial institutions.
• Amazon Web Services (AWS)supportingTechnology or IntegrationTechnology partnership for cloud infrastructure services. AWS referenced as part of Matworks' DDoS protection and cybersecurity offerings alongside Cloudflare and Microsoft technologies.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Arctic Wolf: Arctic Wolf delivers managed detection and response plus managed security services through a subscription model targeting mid-market and regulated industries. Comparable to Matworks in security operations outsourcing, recurring revenue, and emphasis on smaller customers that lack in-house SOC capacity.
• Logicalis: Logicalis is a managed IT and digital transformation services provider with strong EMEA presence and financial-services vertical. Directly comparable to Matworks in regional managed services, cloud infrastructure, and cybersecurity delivery to banks and fintech in EMEA markets.
• Trustwave: Trustwave is a global MSSP offering managed security, threat detection, and MDR services with a strong financial-services vertical. Directly comparable to Matworks in managed cybersecurity delivery model, financial-sector focus, and subscription-based pricing for SMEs and mid-market banks.
• Rackspace Technology: Rackspace provides managed cloud services across AWS, Microsoft Azure, and private clouds, with financial-services vertical solutions. Directly comparable to Matworks' cloud infrastructure consultation and managed IT services arm, including PaaS/SaaS hosting for regulated workloads.
• eSentire: eSentire is an MDR-focused MSSP offering 24x7 SOC services and managed detection across endpoint, network, and cloud. Overlaps with Matworks' 24x7 SOC positioning, Cloudflare-backed network protection, and emphasis on regulated mid-market customers.

Emerging players

• Expel: Expel is a fast-growing MDR/MSSP focused on cloud-native SOC delivery for mid-market customers, including financial services and SaaS firms. Comparable to Matworks in managed security operations model, recurring revenue, and targeting customers that need outsourced threat response.
• NSFOCUS: NSFOCUS provides anti-DDoS, web application firewall, and cloud security solutions globally, including scrubbing center services for ISPs and enterprises. Comparable to Matworks' Magic Transit-backed DDoS protection positioning and similar focus on network-layer threat mitigation for financial services.

Broad incumbents

• Kyndryl: Kyndryl is a global managed infrastructure services provider spun out of IBM, serving large banks and regulated enterprises with hybrid cloud, security, and IT operations management. Overlaps with Matworks' managed services and cloud infrastructure offerings but at vastly greater scale and enterprise tier.
• Secureworks: Secureworks (owned by Dell) is a broad incumbent MSSP delivering managed detection, incident response, and consulting to global enterprises including financial services. Competes with Matworks in financial-services security but at much larger scale and with proprietary Taegis XDR platform.
• Optiv Security: Optiv is a large cybersecurity solutions integrator delivering managed security, consulting, and technology resale across North America. Comparable to Matworks as a security-focused partner/reseller model (similar to Cloudflare/Microsoft/AWS resale), though at enterprise scale.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/matworks-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Matworks