About Trustmore
Trustmore is a company based in Gurugram (India) founded in 2015 by Ashwin Chawwla and Subhrangshu Kumar Neogi. Trustmore has raised $11.4 million across 10 funding rounds from investors including Angel List, Wellfound and We Founder Circle. Trustmore operates in a competitive market with competitors including Stripe, Razorpay, Flutterwave, PayU and Mintoak, among others.
- Headquarter Gurugram, India
- Founders Ashwin Chawwla, Subhrangshu Kumar Neogi
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website itrustmore.com
- Social LinkedIn X Facebook
- Legal Name Trustmore Technologies Private Limited
- Date of Incorporation 10 Aug, 2015
- Jurisdiction Gurgaon, Haryana, India
- Annual Revenue₹1.12 Cr
FY 2025 · +8% YoY
- Net Loss-₹3.68 Cr
FY 2025 · -328% margin
- EBITDA-₹3.37 Cr
FY 2025 · -300% margin
- Total Equity Funding$11.4M (USD)
in 10 rounds
- InvestorsAngel List
& 68 more
Associated legal entities of Trustmore
Trustmore operates through Trustmore Technologies Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Trustmore Technologies Private Limited CIN U70102HR2015PTC056344 | Active | 10 Aug 2015 | Gurgaon, Haryana | ₹1.1 Cr | 9 | 2 | View details |
Funding Insights of Trustmore
Trustmore has successfully raised a total of $11.4M across 10 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 $11.4M
- Total Rounds 10
- First Round $29,979
(Oct 2016)
- Investors Count 68
All 10 funding rounds of Trustmore 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 |
|---|---|---|---|---|---|
| Jan 2025 | – | Seed | – | – | |
| Sep 2024 | $96,428 | Seed | – | – | We Founder Circle |
| Dec 2023 | $6M | Series A | $13.63M | – | – |
| Oct 2023 | $4M | Series A | $8.48M | – | – |
| Oct 2022 | – | Series A | $••••• | We Founder Circle, Angel List | – |
| Jun 2022 | $771,636 | Series A | $••••• | AngelList | |
| Jan 2021 | $89,357 | Seed | $••••• | Chhatisgarh Investment | |
| Dec 2019 | $186,757 | Seed | $••••• | Inflection Point Ventures | |
| Apr 2018 | $105,223 | Seed | $••••• | Chhattisgarh Investments, Chhatisgarh Investment | |
| May 2017 | $215,801 | Seed | $••••• | Sanjoy Paul, Sanjoy Paul |
| Date | Valuation | Stage |
|---|---|---|
| Dec 2023 | $13.63M | •••••••• |
| Oct 2023 | $8.48M | •••••••• |
| Oct 2022 | $••••• | •••••••• |
| Jun 2022 | $••••• | •••••••• |
| Jan 2021 | $••••• | •••••••• |
| Dec 2019 | $••••• | •••••••• |
| Apr 2018 | $••••• | •••••••• |
Full valuation and stage history of Trustmore
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
- Stage changes
- Dates
- Exports
Verified entity values are shown only after access is granted.
Last known valuation $13.63M (Dec 2023). 69 investors in total: 13 institutional and 56 angel.
Investors in Trustmore
Trustmore has secured backing from 69 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Angel List, Wellfound and We Founder Circle.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investment in early-stage startups and global community support. | 2020 | wefoundercircle.com | Mumbai, India | |
Startups across sectors are accelerated through dedicated programs. | – | thecapitalonelab.com | New York, United States | |
Venture capital-backed sector-agnostic accelerator and incubator focused on startups | – | jbventures.tcc.mode | Ernakulam, India | |
Investments, agriculture, and energy services provided by CIL. | 1982 | cginvest.co.in | Nagpur, India | |
Investments are made in early-stage tech startups across sectors. | – | ipventures.in | Gurugram, India | |
- | – | brandcapital.co.in | - | |
Alternative investment platform for startups and investors is operated. | 2010 | angellist.com | San Francisco, United States | |
Startup jobs are connected to individuals via a dedicated platform. | 2013 | wellfound.com | New York, United States | |
Diversified conglomerates operates across multiple industries | – | zenith.global | Dubai, United Arab Emirates | |
- | – | chhattisgarhinvestments.tcc.mode | - |
Investor details for Trustmore
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Trustmore Technologies Private Limited (Trustmore)
Trustmore Technologies Private Limited is the primary company behind Trustmore. The board of Trustmore Technologies Private Limited currently have 2 directors; the longest-serving is Ashwin Chawwla, appointed in 2015. 5 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ashwin Chawwla DIN 01836676 | Managing Director | 10 Aug 2015 | 11 yrs 2 mo | Trustmore Technologies Private Limited |
| Brijesh Thakkar DIN 07440088 | Nominee Director | 12 Apr 2018 | 8 yrs 6 mo | Trustmore Technologies Private Limited |
People of Trustmore
2 people are tracked at Trustmore (2 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder & Managing Director | Leadership | |
Subhrangshu Kumar Neogi | Co-Founder | Leadership |
Complete people profiles for Trustmore
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Trustmore
Figures of Trustmore Technologies Private Limited, the primary company behind Trustmore, for FY 2025. Revenue was ₹1.12 Cr (+8% year on year). Net loss was -₹3.68 Cr (-328% margin). EBITDA was -₹3.37 Cr (-300% margin). Revenue has grown at a compounded annual rate of +47% over three years and +12% over five years.
- ₹1.12 CrRevenue · FY 2025 · +8% YoY
- -₹3.68 CrNet loss · -328% margin
- -₹3.37 CrEBITDA · -300% margin
- ₹1.6 LakhPaid-up capital
- 9Employees (provident fund records)
- +47%Revenue CAGR, 3 years
- +12%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Trustmore Technologies Private Limited are on its company page.
Detailed financial statements for Trustmore
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Trustmore
4 dated milestones of Trustmore across 9 years, from founding to its latest funding, stage changes and deals.
- Founded Trustmore is founded.
- Funding First funding round of $30K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed,.
Competitors of Trustmore
Trustmore 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 Stripe, Razorpay, Flutterwave, PayU and Mintoak, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| stripe.com | 2009 | San Francisco, United States | $9.81B | 5,904 | Payment processing and card issuance solutions are provided for businesses. | |
| razorpay.com | 2014 | Bengaluru, India | $742M | 2,641 | Payment and business banking solutions are provided for enterprises. | |
| flutterwave.com | 2016 | San Francisco, United States | $319.41M | – | Provider of payment processing solutions for businesses | |
| payu.com | 2002 | Amsterdam, Netherlands | $35.15M | 1,200 | Online payment processing and credit solutions are provided for businesses. | |
| mintoak.com | 2017 | Mumbai, India | $24.71M | 140 | Digital payments and engagement solutions are offered for MSMEs. | |
| aciworldwide.com | 1975 | Omaha, United States | – | 4,732 | Digital payments are processed and managed via specialized solutions. | |
| pinelabs.com | 1998 | Noida, India | $1.32B | 3,780 | Omnichannel payment solutions, loyalty programs, and business tools are provided. | |
| highradius.com | 2006 | Houston, United States | $484M | – | Autonomous finance and payment solutions are provided to businesses. | |
| airpay.co.in | 2012 | Mumbai, India | $3.63M | 996 | An integrated omnichannel platform for financial services is provided. |
Detailed competitors of Trustmore
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Latest news on Trustmore
Complete news archive for Trustmore
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Trustmore
10 companies that operate in the same segment as Trustmore (Payments & Remittance Platforms), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Digital payments, financial services, and e-commerce platforms are provided. | 2000 | Noida, Uttar Pradesh, India | USD 4.14 B | – | – | |
Payment, financial, investment, and lending services are provided digitally. | 2012 | Bengaluru, Karnataka, India | USD 1.71 B | – | – | |
Payment processing and card issuance solutions are provided for businesses. | 2009 | San Francisco, California, United States | USD 9.81 B | – | – | |
Cloud-based accounts payable and receivable software for businesses | 2006 | Palo Alto, California, United States | USD 325.6 M | USD 1.65 B | 2,360 | |
Payment and business banking solutions are provided for enterprises. | 2014 | Bengaluru, Karnataka, India | USD 742 M | USD 302.19 M | 2,641 | |
Spend management and accounts payable solutions are delivered to businesses. | 2019 | New York, New York, United States | USD 3.21 B | – | – | |
Payment acceptance and processing solutions provider for businesses | 2018 | Gurugram, Haryana, India | USD 604.02 M | USD 179.52 M | 709 | |
Business spends, payments, and rewards are streamlined by automated workflows. | 2011 | Hyderabad, Telangana, India | USD 13.75 M | USD 149.43 M | 431 | |
Online payment processing and credit solutions are provided for businesses. | 2002 | Amsterdam, Netherlands | USD 35.15 M | USD 5.47 B | 1,200 | |
SaaS-driven credit card and spend management solutions platform for businesses | 2017 | Draper, Utah, United States | USD 1.16 B | – | 1 |
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Frequently Asked Questions about Trustmore
Trustmore was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Trustmore is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Trustmore is a funded company, having raised a total of $11.4M across 10 funding rounds to date. The company's 1st funding round was a Seed of $215.8K, raised on Oct 2016.
The primary company behind Trustmore, Trustmore Technologies Private Limited, reported revenue of ₹1.12 Cr for FY 2025, up 8% year on year.
Provider of financial services with a focus on innovative offerings beyond escrow services. Also offers solutions for payment collections, investment and insurance solutions, cross-border payments, and more.
Trustmore has 69 investors. Key investors include Angel List, Wellfound, We Founder Circle, Chhattisgarh Investments, and The Capital One Lab.
The valuation of Trustmore is $13.63M as of Dec 2023.
Trustmore operates through Trustmore Technologies Private Limited.
The legal entities of Trustmore currently have 2 directors, including Brijesh Thakkar, Ashwin Chawwla.