Trulioo

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Trulioo
Private
IndustryFinancial Technology
Founded2011 (2011)
Vancouver, British Columbia, Canada
FounderStephen Ufford[1]
Tanis Jorge[2]
Headquarters,
Area served
Worldwide
Key people
Stephen Ufford, CEO and Founder[1]
Tanis Jorge, Director and Co-founder[2]
ProductsOnline Identity Verification
ServicesIdentity Verification
Websitewww.trulioo.com

Trulioo /ˈtrlˈj/ is a Canadian financial technology company based in Vancouver, British Columbia that offers identity verification services for businesses and organizations worldwide using government and private databases.[4]

History[edit]

Trulioo was founded by Stephen Ufford and Tanis Jorge. Both previously worked together on three startups in the consumer credit industry, with Ufford as CEO and Jorge as COO of Pharos Global Strategies.[5] They also held similar positions with iQuiri.com and NCB Data, both of which were sold to FreeCreditReport.com and Experian respectively.[5]

The company received $2 million in seed funding from Blumberg Capital in 2012.[6] In March 2014, the company announced that it had secured $6 million in funding from Tenfore Holdings with participation from BDC Venture Capital and Blumberg Capital.[7]

In June 2014, Trulioo acquired Global Data Company, which specializes in electronic, cross-border identity verification. This strategic acquisition positioned Trulioo to enter the anti-money laundering compliance space.[8]

Trulioo announced in December 2015 that it had raised $15 million in financing from American Express Ventures along with existing investors Blumberg Capital, BDC Venture Capital, and Tenfore Holdings. This marked the first time that American Express had invested in a Canadian startup as well as Canada’s largest financial technology funding in 2015.[9]

Products[edit]

GlobalGateway, Trulioo’s flagship product, is a service designed to help companies to comply with anti-money laundering and know your customer regulations in industries such as eCommerce, payments, remittance, financial services, and online marketplaces to provide identity verification for more than four billion consumers in over 40 countries.[9]

Industry Recognition[edit]

Fintech 100[edit]

Australian investment firm H2 Ventures and consulting firm KPMG named Trulioo as one of its 50 “emerging stars” for its Fintech 100 list released in December 2015. Now in its second year, the 2015 edition of the Fintech 100 recognized excellence in financial technology innovation from 19 different countries around the world.[10]

CIX Top 20[edit]

In October 2015, the Canadian Innovation Exchange (CIX) inducted Trulioo into the 2015 CIX Top 20. Since its inception in 2008, a panel of technology experts and investors from across Canada select 20 companies based on several key factors such as product or service offered, depth of management, market opportunities, and business models.[11]

Deloitte Technology Fast 50™[edit]

In November 2014, consulting firm Deloitte Canada selected Trulioo as a recipient of its annual Companies-to-Watch award as part of its Technology Fast 50™ program. First launched in 1998, this program celebrates the achievements and evolution of the Canadian technology industry.[12]

References[edit]

  1. ^ a b "Trulioo is disrupting the traditional ID verification business by building cost-effective, advanced identity solutions for small and medium firms". Startup Beat. 2 January 2013. Retrieved 12 March 2014.
  2. ^ a b "Tanis Jorge Contributor Profile". Huffington Post. Retrieved 12 March 2014.
  3. ^ Lewis, Rob (11 January 2016). "Why Canada's Financial Technology Space Needs a United Voice". Techvibes. Retrieved 4 February 2016.
  4. ^ Groenfeldt, Tom (15 December 2015). "Making Cross-Border Commerce Safe For Payments Companies". Forbes. Retrieved 31 March 2016.
  5. ^ a b "The Pitch: Trulioo verifies ID via social networks". Silicon Valley Business Journal. 14 January 2011. Retrieved 12 March 2014.
  6. ^ Bernhard Jr., Kent (21 November 2012). "The Day's Deals: Time Warner best on online video". Upstart Business Journal. Retrieved 11 March 2014.
  7. ^ Novet, Jordan (11 March 2014). "Funding Daily: Electricity, Clouds, and Spam". Venture Beat. Retrieved 11 March 2014.
  8. ^ "Trulioo Acquires Australian ID Verification Provider". 3 June 2014. Retrieved 11 June 2014.
  9. ^ a b Shaw, Gillian (14 December 2015). "Vancouver firm Trulioo gets $15 million in funding". Retrieved 31 March 2016.
  10. ^ "Leading Global Fintech Innovators: Ones to Watch. Trulioo". H2 Ventures. Retrieved 31 March 2016.
  11. ^ "Canadian Innovation Exchange (CIX) Announces Canada's 20 Most Innovative Technology Companies". Canadian Innovation Exchange. 14 October 2015. Retrieved 31 March 2016.
  12. ^ "Technology Fast 50™ winners" (PDF). Deloitte. 13 November 2014. Retrieved 31 March 2016.

External links[edit]