About truID
truID is a Financial Services company based in Germiston (South Africa) founded in 2017 by Christian Schuit, Dmitry Drabkin, and Paris Valakelis. It operates as an open banking API solutions are provided for financial institutions. truID offers products and services including truID API and Consent Management. Its focus areas include FinTech, Banking Tech, Open Banking and Banking APIs. Its legal entity is truID (Pty) Ltd. Its competitors include M2P Fintech, Prime Trust, AuthBridge, Stitch and Ukheshe and 3 more; 4 of its 8 listed competitors have raised funding.
Company details
TruID was founded in 2017 in Germiston, South Africa, within the fintech sector. Open banking API solutions are offered to banks and financial institutions. Access to users identity data, account balances, and transactions is facilitated through these APIs. Banks are enabled to analyze customer profiles and credit scores. All data processed via the APIs is stored using encryption methods.
- Headquarters Germiston, South Africa
- Founders Christian Schuit, Dmitry Drabkin, Paris Valakelis
- SectorsFinancial Services
- Website truid.co.za
- Social LinkedIn X
- Legal Name Truid (Pty) Ltd
- Investors
Products & Services of truID
truID offers a comprehensive portfolio of products and services, including truID API and Consent Management.
Secure platform for accessing bank data and generating insights
System for handling user consent in financial data sharing
Funding Insights of truID
- Total Rounds 1
- Investors Count 1
All 1 funding rounds of truID with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2020 | – | Seed | – | Crossfin | – |
1 investors in total: 1 institutional.
Investors in truID
truID has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Crossfin.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investor in and builder of FinTech businesses in emerging markets | 2017 | crossfin.co.za | Cape Town, South Africa |
Investor details for truID
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People of truID
3 people are tracked at truID (3 in leadership).
| Name | Role | Group |
|---|---|---|
Christian Schuit | Co-Founder | Leadership |
Dmitry Drabkin | Co-Founder | Leadership |
Paris Valakelis | Co-Founder | Leadership |
Complete people profiles for truID
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of truID
2 dated milestones of truID across 3 years, from founding to its latest funding, stage changes and deals.
- Founded truID is founded.
- Funding First funding round.
Competitors of truID
truID has 8 listed competitors in our database, 4 of them funded. They include M2P Fintech, Prime Trust, AuthBridge, Stitch and Ukheshe, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| m2pfintech.com | 2014 | Chennai, India | $187.79M | 1,144 | Banking, lending, and payment solutions are provided via custom APIs. | |
| primetrust.com | 2004 | Las Vegas, United States | $171.22M | 84 | Cloud-based AML and banking API solutions are provided for institutions. | |
| authbridge.com | 2005 | Gurugram, India | $11.2M | 1,017 | Identity verification, employee screening, and due diligence platforms are provided. | |
| stitch.money | 2019 | Cape Town, South Africa | $108.6M | – | Open banking API solutions are delivered for financial institutions. | |
| ukheshe.com | 2018 | Johannesburg, South Africa | – | – | End-to-end electronic payment solutions, including hardware and software, are provided. | |
| q-platform.ru | 2015 | Moscow, Russia | – | – | Provides open banking API solutions for financial institutions. | |
| singularbanking.com | 2017 | Santiago, Chile | – | – | Delivers a bank-as-a-service platform for seamless financial operations. | |
| nanobnk.com | 2017 | Quatre Bornes, Mauritius | – | – | Provides technology solutions for banks to serve unbanked populations in Africa and Asia. |
Detailed competitors of truID
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Web traffic of truID
The website of truID (truid.co.za) receives about 1.2K visits a month.
- Monthly visits1.2K
▲ 4.8% vs previous month
Top companies in Banking & FinTech Platforms
10 companies that operate in the same segment as truID (Banking & FinTech Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Tide is recognized as a digital banking platform for businesses. | 2015 | London, England, United Kingdom | USD 180.56 M | – | 3,462 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Banking solutions are provided for retail customers and businesses. | 2015 | London, England, United Kingdom | USD 1.73 B | USD 5.95 B | 20,299 | |
Internet first bank for individuals and businesses | 2015 | London, England, United Kingdom | USD 2.37 B | USD 2.31 M | 3,786 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | – | 237 | |
Digital banking services are offered to consumers and businesses. | 2014 | London, England, United Kingdom | USD 1.01 B | USD 813.42 M | 2,835 | |
Payment and banking solutions are provided to users and banks. | 2015 | San Ramon, California, United States | USD 390 M | USD 532.2 K | 2,149 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.2 B | – | 5,356 | |
Digital banking services are provided for individuals and businesses. | 2014 | Blyth, England, United Kingdom | USD 852.48 M | – | 556 |
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Related news about Truid
Complete news archive for truID
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Frequently Asked Questions about truID
truID was founded in 2017 and raised its 1st funding round 3 years after it was founded.
truID is headquartered in Germiston, South Africa. It is registered at Germiston, Gauteng, South Africa.
TruID was founded in 2017 in Germiston, South Africa, within the fintech sector. Open banking API solutions are offered to banks and financial institutions. Access to users identity data, account balances, and transactions is facilitated through these APIs. Banks are enabled to analyze customer profiles and credit scores. All data processed via the APIs is stored using encryption methods.
truID's top competitors include M2P Fintech, Stitch and AuthBridge.
truID offers truID API and Consent Management.
truID has 1 investor. Key investors include Crossfin.
truID operates through Truid (Pty) Ltd.