🚀 Trustap Raises $5.5M in Funding
Trustap, a Cork-based transaction platform, has secured $5.5M in a funding round led by TX Ventures. Other investors include SeedX, Partners Resolute, and existing shareholders like MiddleGame Ventures and ACT VC. This funding will help Trustap improve its services and expand its global reach. CEO Conor Lyden expressed excitement about the new investors and their experience in core markets.
💼 Enhancing Marketplace Transactions
Trustap’s platform helps marketplaces manage payments, logistics, and customer support. Their escrow-style payment system increases trust between buyers and sellers. This funding will be used to enhance the platform’s features and support recent partnerships. “We’ll also look at adding further product features to cater for the wide range of use cases we deal with,” Lyden added.
🌐 Global Presence and Partnerships
Trustap serves leading platforms in Europe, the US, and Asia, including Mudah in Malaysia and Preloved in the UK. With partnerships in 27 countries, they manage transactions for a variety of products. Recently, they closed a deal with a clothing marketplace, adding five Central Eastern European countries to their network.
🏢 New Leadership and Future Outlook
Ovidiu Solomonov, former COO of European Markets at Adevinta, has joined Trustap as Chairman of the Board. TX Ventures’ Krzysztof Bialkowski praised Trustap’s scalable solution and global client base. He believes Trustap’s trusted payment options are crucial for future marketplace success. This new funding will enable Trustap to lead in trusted payments globally.
Will Trustap become the leading provider for trusted payments?
