Trulioo Nets $15 Million in New Funding
Dec. 14, 2015
Trulioo, a Vancouver-based company that specializes in providing identity verification internationally, has raised $15 million in a new round of financing led by American Express Ventures. The company said it is the first investment by American Express in a Canadian startup and the largest fintech financing in that country this year. The company enables merchants and payment providers to verify the identities of customers in cross-border situations and said it will use the capital infusion to more effectively target banking clients.
“We currently power customer and merchant onboarding for top global payment and e-commerce players in the market, and we are now looking to take our flagship product, GlobalGateway, to the banking industry,” said Stephen Ufford, CEO at Trulioo. “This investment is a vote of confidence that we can help support the banking industry in meeting the increasingly complex requirements of cross-border compliance.”
In addition to American Express Ventures, existing investors BDC Capital, Blumberg Capital and Tenfore Holdings also participated in the round.