IGNITE Alumni - Trustap raises $5.5m in Series A funding

9 Jul 2024

Conor Lyden, founder of Trustap, an escrow-style payment provider, has raised $5.5 million in capital to support product expansion as the company grows internationally.

TX Ventures led the Series A round of fundraising, with co-investment by a number of new investors including SeedX, Partners Resolute and Aperture. In addition to FurthrVC, existing investors MiddleGame Ventures, Act, and Atlantic Bridge participated in this round.

Trustap aims to give buyers and sellers confidence when engaging in an online or face-to-face transaction with someone they don’t know.

The company plans to invest in their go-to-market strategy and also look at adding further product features to cater for the wide range of use cases across both C2C and B2B marketplaces.

“We’re delighted to have closed this round and it’s great to have added new investors to our cap table who bring with them a wealth of experience in our core markets,” said Trustap chief executive, Conor Lyden.

“The product is immensely scalable which is proven by the global presence of clients and the numerous categories Trustap facilitates among buyers and sellers," said Krzysztof Bialkowski, managing partner of TX Ventures.

Trustap has already signed up customers such as Mudah in Malaysia, Preloved in the UK, and Student Seats in the United States, with collaborations spanning 27 countries. The company recently signed a multi-market agreement with a clothing marketplace, expanding its operations into five new European countries.

Read the full article here - The Irish Times News - Cork payments company Trustap raises €5.1m in funding

Visit Trustap's website here.