Trustmi provides a payments security platform that integrates with customers' existing payment workflows to detect fraud by assessing past payments and applying that model to future transfers. The company leverages a crowdsourced "trust network" of vendor and business data to build vendor digital fingerprints and flag deviations in vendor information and banking details. Its product also automates audit preparation, establishes financial reporting standards, protects data and monitors for potential breaches, and includes a payment-approval workflow for flagging errors and attacks. Trustmi offers a one-week assessment that captures historical data to establish vendor profiles and uncover anomalies across hundreds of data points. Customers cited in the article include Colgate-Palmolive, Monday.com and CNA Insurance, along with dozens of other companies across manufacturing, pharmaceutical, healthcare and insurance industries. The company says it will use new capital to expand its enterprise customer base and scale its business-to-business payments security offering, including pursuing more Fortune 500 customers.

Total raised

$17M

Funding rounds

1

Latest round

Series A

Latest activity

Jul 2023