TrueBiz Analysis: $2M Raised
What is TrueBiz?
TrueBiz analyzes a merchant’s web presence and online behavior to verify what a business does. Its products review hundreds of signals from websites, reviews, social activity, location data, and blocklists, then return pass or fail decisions with evidence. The company reports use by Visa Cross Border Solutions, approval in Mastercard’s Merchant Monitoring Program, and a Y Combinator Summer 2022 background.
Location
New York, United States
Employees
11-50
Founded
2022
Revenue
$43.5k
Business Model
Automated risk assessment and subscription-based revenue from financial services partnerships.
Product Features & Capabilities
- Web Presence Review, Merchant Monitoring, Risk Sharing Network, Smart Blocklist, automated analysis of merchant's web presence, monitoring internet footprint for business model changes, flagging new businesses with similar credentials, speeding up time to activation, reducing manual review, preventing prohibited merchants.
How much TrueBiz raised
Seed - $2.4 million
January 31, 2023Lead Investor: Flourish Ventures, Homebrew, Pioneer Fund, The Fintech Fund, Y Combinator
Who are the founders of TrueBiz
DH
MM
Max Morlocke
Founder
Competitors Overview
TrueBiz operates in the market of automated solutions for analyzing merchants' web presence and monitoring risk, primarily serving financial services. Its main competitors include:
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Spring Labs: Focuses on providing a decentralized network for sharing credit data, which can enhance risk assessment processes. Their advantage lies in leveraging blockchain technology to ensure data security and integrity.
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Portabl: Offers a platform that simplifies the onboarding process for businesses by providing a comprehensive view of a merchant's risk profile. Portabl's notable advantage is its user-friendly interface and integration capabilities with existing financial systems.
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Kanpla: Specializes in risk management solutions for payment processing, providing tools for real-time monitoring and fraud detection. Kanpla's strength is in its advanced analytics and machine learning capabilities, which allow for more accurate risk assessments.
These competitors differ from TrueBiz in their technological approaches and specific features, such as blockchain integration, user interface design, and analytics capabilities.
Investors
- Flourish Ventures
- Homebrew
- Pioneer Fund
- The Fintech Fund
- Y Combinator
- Jason Rosen
Market Focus
TrueBiz primarily focuses on the financial services industry, providing automated solutions for analyzing merchants' web presence and monitoring their risk to facilitate faster onboarding of business customers and reduce fraud.
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