In the latest funding round, G Squared took the lead, with existing investors Sequoia and Khosla Ventures also contributing.
Investment Use
Truework plans to use this fresh capital to assist its customers in growing their businesses by offering instant, accessible, and accurate consumer data.
The company intends to transform how consumers share personal information during life events like starting a new job or purchasing a home. Truework has created a network for verified identity that empowers users with full control over their data, enabling them to choose when to disclose and when to withhold it.
According to the company’s projections, its in-house tools can facilitate over 12 million income and employment verifications by the end of 2022, serving more than 20,000 small and medium enterprises (SMEs) and 100 large enterprises across the country.
Company Overview
In 2021, Truework introduced several new products, such as Payroll Network Reapprovals and Credentials. The former provides customers with deeper insights into their data and control over how it is shared with third parties, allowing users to generate their own employment verification letters.
The Preapproval product offers lenders accurate underwriting and enhanced communication capabilities, while the Credentials tool enables applicants to share their payroll data instantly and directly through their loan applications.
Truework’s mission is to empower millions of workers by giving them control over their data and streamlining the lending process for both borrowers and lenders. The fintech aims to build a future where consumer-centric thinking is at the core of decision-making processes. With its latest Series C funding, Truework will further enhance this initiative, fostering an efficient, secure, and stable credit system.
Founded in 2017, Truework focuses on developing new technologies for mortgage and consumer-focused lenders to instantly verify the employment and income of borrowers while ensuring they maintain full control over shared data.