About Truist
Truist is a company based in Charlotte (United States) founded in 1872 was acquired by FrontStream in March 2014. It operates as a Subscription Services, Commission-Based, and FinTech. Truist has raised $900 thousand across 4 funding rounds from investors including FrontStream, United Way and U.S. Department of the Treasury. The company has 1,240 employees as of December 31, 2024. Truist has completed 2 acquisitions, including Long Game and Service Finance. Truist offers products and services including Truist One Checking, LightStream Unsecured Loan, Truist Enjoy Cash Credit Card, Home Equity Line of Credit, and Truist One Money Market Account.
- Headquarter Charlotte, United States
- Employees 1240 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial ServicesTechnology
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Beacon Financial Corporation
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Annual Revenue
$645.84 M4.41as on Dec 31, 2024
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Net Profit
$61 M-12.36as on Dec 31, 2024
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EBITDA
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Total Equity Funding
$900 K (USD)
in 4 rounds
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Latest Funding Round
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Investors
FrontStream
& 6 more
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Employee Count
1240
as on Dec 31, 2024
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Investments & Acquisitions
Long Game
& 1 more
- Acquired by
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IPO & Listings of Truist
Truist is a publicly listed company on the NYSE with ticker symbol TFC in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Truist
Truist offers a comprehensive portfolio of products and services, including Truist One Checking, LightStream Unsecured Loan, Truist Enjoy Cash Credit Card, Home Equity Line of Credit, and Truist One Money Market Account. 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.
Checking account with no overdraft fees offered.
Unsecured loans for debt consolidation are provided.
Credit card with cash back rewards offered.
Credit line using home equity is available.
Savings account with accessible funds is provided.
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Leadership Team
233 people
Software Development Team
228 people
Finance and Accounting
43 people
Data Analysis and Operations Team
24 people
Legal and Compliance
22 people
Product Management Team
19 people
Senior Team
19 people
Operations Team
17 people
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Funding Insights of Truist
Truist has successfully raised a total of $900K across 4 strategic funding rounds. 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 4
- Last Round Last Round
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First Round
First Round
(03 Jul 2008)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2010 | Amount | Series E - Truist | Valuation |
investors |
|
| Aug, 2009 | Amount | Grant - Truist | Valuation |
investors |
|
| Oct, 2008 | Amount | Unspecified - Truist | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Truist
Truist has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include FrontStream, United Way and U.S. Department of the Treasury. 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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VC and private equity firm
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Founded Year | Domain | Location | |
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Impact venture capital is invested in early-stage US companies.
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Founded Year | Domain | Location | |
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Early-stage US investments are made by Sopris Capital.
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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 Truist
Truist has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Long Game and Service Finance. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Prize-linked manual savings account
|
2015 | ||||
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Home improvement loans are provided to homeowners nationwide.
|
2004 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
|
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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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Truist
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Truist Comparisons
Competitors of Truist
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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.
|
Latest news on Truist
Frequently Asked Questions about Truist
When was Truist founded?
Truist was founded in 1872 and raised its 1st funding round 136 years after it was founded.
Where is Truist located?
Truist is headquartered in Charlotte, United States. It is registered at Charlotte, North Carolina, United States.
Who is the current CEO of Truist?
Bill Rogers is the current CEO of Truist.
Is Truist a funded company?
Truist is a funded company, having raised a total of $900K across 4 funding rounds to date. The company's 1st funding round was a Unspecified of $900K, raised on Jul 03, 2008.
How many employees does Truist have?
As of Dec 31, 2024, the latest employee count at Truist is 1,240.
What is the annual revenue of Truist?
Annual revenue of Truist is $645.84M as on Dec 31, 2024.
What does Truist do?
Truist Financial Corporation, operating as Truist, is engaged in providing a wide range of financial services. Banking solutions such as checking and savings accounts are offered alongside credit cards and personal loans through its subsidiary, Truist Bank. Mortgage and home equity lending options are provided to support homebuyers and homeowners. Investment and wealth management services are delivered through affiliates like Truist Investment Services and Truist Advisory Services. The company serves personal, small business, and commercial clients across various sectors. Digital banking tools and mobile applications are integrated to enhance customer access and financial management. Community engagement and disaster relief initiatives are also supported through the Truist Foundation.
What products or services does Truist offer?
Truist offers Truist One Checking, LightStream Unsecured Loan, Truist Enjoy Cash Credit Card, Home Equity Line of Credit, and Truist One Money Market Account.
Is Truist publicly traded?
Yes, Truist is publicly traded on NYSE under the ticker symbol TFC.
How many acquisitions has Truist made?
Truist has made 2 acquisitions, including Long Game, and Service Finance.
Who are Truist's investors?
Truist has 7 investors. Key investors include FrontStream, United Way, U.S. Department of the Treasury, Enhanced Capital Partners, and SJF Ventures.
What is Truist's ticker symbol?
The ticker symbol of Truist is TFC on NYSE.
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