Founded in 2020 by Zain Zaidi and Ali Zaheer, TransCrypts offers a centralized, blockchain-enabled SaaS platform for background checks and employment verification, returning ownership of verified records to users while streamlining compliance for employers. The company already serves more than 4 million users and over 450 enterprise customers, including Fortune 100 and Fortune 500 firms. Its technology leverages cryptography and distributed ledgers to combat fraud, deepfakes, and data breaches in identity management. With co-headquarters in Toronto and San Francisco, TransCrypts plans to broaden its product suite from employment credentials into health and educational records. Proceeds from its latest financing will also support scaling of its customer base, compliance with additional privacy and security standards, and team expansion—particularly at the new Toronto office. The company positions itself at the intersection of digital identity, blockchain infrastructure, and credential verification SaaS. To date it has secured $15 million in outside capital, enabling continued growth in a market increasingly focused on secure, user-controlled identity solutions.

Total raised

$17M

Funding rounds

2

Latest round

Seed

Latest activity

Oct 2025