Income verification platform Truework raises $50 million in its Series C round of funding
- ByStartupStory | August 13, 2022
Truework, a fintech startup that offers income and employment verification for the nation’s leading mortgage, car, and consumer lenders, said today that it has secured $50 million in Series C funding round. Sequoia Capital, Activant Capital, and Khosla Ventures returned investors joined G Squared in leading the Series C investment. Indeed, Human Capital, and Four Rivers Group are some recent investors.
Truework CEO Ryan Sandler stated, “At Truework, automation and efficiency are at the core of what we do, and developing the future with a consumer-first attitude goes into every choice we make.”
Truework gives lenders access to over 35 million (and counting) US employee data, allowing them to make faster credit decisions with confirmed income and convert more customers. We will be further empowered by Series C investment, which will also contribute to the development of a more effective, secure, and stable credit system.
G Squared Partner Spencer McLeod stated, “Truework’s vision, leadership, and technology are skilfully-calibrated to the contemporary scenario. Rising rates and unpredictability in the market are encouraging lenders to streamline their approval procedure. People who apply for loans anticipate speedy decisions and look for choices that provide them control over their personal data and knowledge of how it is utilised. Some of the biggest banks and most forward-thinking investors in the country have received that answer from Truework. We are delighted to support Truework’s growth and are inspired by their future plans to empower customers.”
About Truework
The 2017-founded San Francisco company Truework interacts with payroll services like Gusto, Zenefits, and BambooHR. Truework’s APIs allow mortgage providers and lenders to swiftly check and approve customers within their own applications. In order to confirm possible new recruits, the organisation also provides background checks for employers and staffing firms.
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