About TrueFi
TrueFi is a company based in San Francisco (United States) founded in 2020 by Rafael Cosman.. TrueFi has raised $12.5 million across 1 funding round from investors including BlockTower, Andreessen Horowitz and Alameda Research. TrueFi offers products and services including TrueFi App, TRU Token, and tfUSDC. TrueFi operates in a competitive market with competitors including Airfox, Liquity, Meow, Scallop and hoseki, among others.
- Headquarter San Francisco, United States
- Founders Rafael Cosman
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$12.5 M (USD)
in 1 rounds
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Latest Funding Round
$12.5 M (USD), Series B
Aug 07, 2021
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Investors
BlockTower
& 2 more
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Employee Count
Employee Count
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Products & Services of TrueFi
TrueFi offers a comprehensive portfolio of products and services, including TrueFi App, TRU Token, and tfUSDC. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Application for on-chain credit and lending services in crypto.
Token used for governing the TrueFi protocol and approvals.
Token for transactions within TrueFi's credit infrastructure.
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Funding Insights of TrueFi
TrueFi has successfully raised a total of $12.5M through 1 strategic funding round. The most recent funding activity was a Series B round of $12.5 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $12.5M
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First Round
First Round
(07 Aug 2021)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series B - TrueFi | Valuation | BlockTower |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in TrueFi
TrueFi has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include BlockTower, Andreessen Horowitz and Alameda Research. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Cryptocurrency and digital asset investments are managed by the firm.
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Founded Year | Domain | Location | |
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Operates a digital hub for cryptocurrency trading and services.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by TrueFi
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - TrueFi
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Truefi Comparisons
Competitors of TrueFi
TrueFi operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Airfox, Liquity, Meow, Scallop and hoseki, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Blockchain-based mobile wallet for recharges and loans is offered.
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| domain | founded_year | HQ Location |
Decentralized interest-free loans against Ether are offered in stablecoins.
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| domain | founded_year | HQ Location |
High-interest business banking services are provided to companies.
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| domain | founded_year | HQ Location |
DeFi protocol for lending and borrowing on the Sui blockchain
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| domain | founded_year | HQ Location |
Online crypto-focused lending platform for individuals
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Truefi
Frequently Asked Questions about TrueFi
When was TrueFi founded?
TrueFi was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Where is TrueFi located?
TrueFi is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of TrueFi?
Rafael Cosman is the current CEO of TrueFi. They have also founded this company.
Is TrueFi a funded company?
TrueFi is a funded company, having raised a total of $12.5M across 1 funding round to date. The company's 1st funding round was a Series B of $12.5M, raised on Aug 07, 2021.
What does TrueFi do?
TrueFi was founded in 2020 in San Francisco, United States, within the decentralized finance sector. Cryptocurrency lending and borrowing are facilitated without collateral, while yields on stablecoin loans are earned by users. Protocol governance is decentralized, and loan originations are managed through community-driven processes. Operations focus on enabling access to capital in the blockchain ecosystem.
What products or services does TrueFi offer?
TrueFi offers TrueFi App, TRU Token, and tfUSDC.
Who are TrueFi's investors?
TrueFi has 3 investors. Key investors include BlockTower, Andreessen Horowitz, and Alameda Research.
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