About Truss
Truss is a company based in San Francisco (United States) founded in 2021 by Nick Addison and Matthew Smith. It operates as a FinTech. Truss has raised $4.77 million across 4 funding rounds from investors including Innovate BC, MAVAN Capital Partners and Y Combinator. Truss offers products and services including Get Paid, Pay Subs & Vendors, Charge Cards, and Business Checking. Truss operates in a competitive market with competitors including Beam, Suppli and iink, among others.
- Headquarter San Francisco, United States
- Founders Nick Addison, Matthew Smith
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Mazumago Holdings Ltd.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$4.77 M (USD)
in 4 rounds
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Latest Funding Round
$4.01 M (USD), Series A
Nov 03, 2022
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Investors
Innovate BC
& 2 more
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Employee Count
Employee Count
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Products & Services of Truss
Truss offers a comprehensive portfolio of products and services, including Get Paid, Pay Subs & Vendors, Charge Cards, and Business Checking. 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.
Payments are collected faster via ACH and cards.
Subcontractors are paid online with instant fund access.
Unlimited cards are issued for staff expense management.
Banking is provided with enhanced FDIC insurance coverage.
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Funding Insights of Truss
Truss has successfully raised a total of $4.77M across 4 strategic funding rounds. The most recent funding activity was a Series A round of $4.01 million completed in November 2022. 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 Series A — $4.0M
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First Round
First Round
(23 Mar 2021)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Series A - Truss | Valuation |
investors |
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| Mar, 2022 | Amount | Seed - Truss | Valuation |
investors |
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| Aug, 2021 | Amount | Seed - Truss | Valuation |
investors |
| 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 Truss
Truss has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Innovate BC, MAVAN Capital Partners and Y Combinator. 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 North American tech companies, focusing on early-stage and growth opportunities.
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Founded Year | Domain | Location | |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location | |
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Startup accelerator firm backed by the British Columbia Government
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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 Truss
| 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 - Truss
| 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 |
Truss Comparisons
Competitors of Truss
Truss 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 Beam, Suppli and iink, 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 |
Beam is recognized as a provider of construction management software and financial tools.
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| domain | founded_year | HQ Location |
Payment processing solutions are provided for construction companies.
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| domain | founded_year | HQ Location |
Property insurance claim payments are streamlined via digital multi-party processing.
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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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Frequently Asked Questions about Truss
When was Truss founded?
Truss was founded in 2021.
Where is Truss located?
Truss is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Truss?
Matthew Smith is the current CEO of Truss. They have also founded this company.
Is Truss a funded company?
Truss is a funded company, having raised a total of $4.77M across 4 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Mar 23, 2021.
What does Truss do?
Truss is established as a financial technology company specializing in banking solutions for the construction industry. Services are provided through partnerships with Thread Bank, Member FDIC, ensuring enhanced FDIC insurance coverage. Payment solutions are offered to facilitate faster receivables via ACH and card payments, alongside efficient payables for subcontractors and vendors. Charge cards are issued for staff expense management, and business checking accounts are maintained with no fees or minimums. The focus is placed on addressing the unique financial needs of construction businesses with tailored tools and services.
What products or services does Truss offer?
Truss offers Get Paid, Pay Subs & Vendors, Charge Cards, and Business Checking.
Who are Truss's investors?
Truss has 3 investors. Key investors include Innovate BC, MAVAN Capital Partners, and Y Combinator.
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