TrueBiz builds an API-based service that automates business identity verification and KYB by aggregating more than 50 data points from online and offline sources into a TrueBiz Risk Score. The product analyzes websites, social profiles, review pages, captured registration documents and hundreds of other sources to summarize key risk indicators. Its stated goal is to shorten business account opening times and reduce fraud-driven churn by automating reviews that legacy providers often perform manually. TrueBiz charges customers a fee per search and targets mid-size financial services firms such as banks, payments providers and insurers. The company plans to expand product functionality toward a single sign-on for business identity so verified businesses can reuse credentials across a network. TrueBiz has fewer than 10 employees and is fully distributed.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Jan 2023