Trulioo, a Vancouver, British Columbia, Canada-based provider of global identity verification solutions for the online payments industry, raised $15m in equity funding.
Backers included American Express Ventures and existing investors BDC Capital, Blumberg Capital and Tenfore Holdings. In conjunction with the funding, Andrew Lugsdin, partner at BDC Capital, will join Trulioo’s Board of Directors.
The company intends to use the funds to scale its business, including expansion of its sales team, technical infrastructure, and customer support as well as data acquisition.
Founded by Stephen Ufford, CEO, Trulioo provides advanced analytics from cyber and traditional data sources to instantly verify identities online. Its bank-grade identity verification product, GlobalGateway, enables businesses to perform identity verification for more than 4 billion people in over 40 countries via 145 data sources. It allows businesses to comply with Anti-Money Laundering (AML) and Know Your Customer (KYC) identity verification needs, and provides a solution to evaluate new and existing users through a single portal or API.