tru.ID is a London-based authentication provider that replaces passwords and PIN codes with a possession-factor API leveraging SIM card cryptography. The platform exposes the cryptographic security built into mobile networks to businesses via API for multifactor authentication (MFA). Led by co-founder and CEO Paul McGuire, tru.ID aims to reduce cybercrime threats targeting customers and employees. The company says its service is already available in 20 markets covering over 2 billion users and is rolling out globally. Tru.ID raised seed funding to expand its operations and plans to use the proceeds to roll out services into the U.S. market. The product targets shortcomings of legacy authentication methods—phishing-prone SMS/email PINs and passwords—by combining mobile ubiquity with SIM-based cryptography. tru.ID is a London-based mobile authentication platform that has exited stealth and whose product is live in the UK, Canada, USA, India and Indonesia. The company leverages the cryptographic security of the SIM card to verify mobile number identity and replace legacy methods such as email+password and SMS one-time passwords. It offers an API platform with mobile SDKs and developer tooling to support integration from initial setup through deployment. tru.ID positions its solution as mobile-native, frictionless, secure and private, aiming to reduce sign-up abandonment and fraud. The company was founded by Paul McGuire and Eric Nadalin, both of whom previously co-founded or exited companies including mBlox, Boku, iPin and Nexmo. The recent £3M (~€3.45M) raise will be used to expand geographic reach and support growth.

Total raised

$13M

Funding rounds

2

Latest round

Seed

Latest activity

Apr 2022