- Truework recently announced new funding from American Express Ventures. These are the details.
Truework — a consent-based identity platform that gives consumers control over their personal and professional information — recently announced new funding from American Express Ventures, the strategic investment group of American Express. Amex Ventures joins Activant Capital, Sequoia Capital, Khosla Ventures and other participants in Truework’s Series B funding (announced in May 2020).
This latest round of funding comes as Truework continues to expand its network of lenders, employers, and other customers as demand for its employment and income verification platform grows.
Truework’s core product, an employment and income verification platform, simplifies the verification process for lenders, landlords, and those seeking background checks by reducing the amount of time it takes to verify each individual.
And in doing so, Truework is able to keep consumer consent at the forefront while reducing the need for manual intervention. As Truework is expanding its reach to new verticals, more Americans can take advantage of the platform during important life events like getting a new job or buying a home.
KEY QUOTES:
“In light of the COVID-19 pandemic, the digital transformation we’ve been seeing in lending and other consumer transactions has led to our platform growing over 5x this year. Our API enables online lenders to verify source-of-truth income and employment data faster and easier than ever before, which has been critical for approving applications quickly as mortgage rates are at industry lows and the demand for new homes and refinancing surges.”
— Ryan Sandler, CEO and co-founder of Truework
“The traditional methods many organizations use to verify an individual’s employment information can be time-consuming and expensive. Truework’s platform simplifies the process and gives greater control to the individuals. We are excited to invest in Truework to support their future growth.”
— Dana Eli-Lorch, managing director at Amex Ventures
