Truora, a Colombian authentication startup, raises $15M in Series-A funding

Truora, a Colombian startup that provides user authentication, has raised $15M in Series A funding. It was co-led jointly by Accel and BBVA’s investment fund Propel.

Kaszek and Y Combinator were also present, along with angel investors from Clara Jeeves. Platzi, Nowports, Frubana and Jeeves. The company is now valued at $75 million after the investment round.

Truora is described as a SaaS startup which creates communication and authentication tools for Latin American marketplaces, banks, fintechs, and startups. It specializes with user authentication and integration with WhatsApp with TruConnect.

Truora’s TruConnect is a no-code verification solution that enables companies to verify the identity of consumers via WhatsApp.

Truora was originally focused on background checks for gigster platforms, but after its participation in Y Combinator’s Winter 2019 cohort, it expanded into digital identity and authentication technologies.

Truora plans to use the funds for its Mexican expansion and to increase its visibility. The company is active in nine countries, with offices opening in Mexico, Brazil and Chile as well as San Francisco.

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