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§ Private Profile · London, GB
tru.ID is a technology company.
tru.ID provides identity verification, enabling businesses to engage customers. The company specializes in remote authentication, completing identity checks in under 30 seconds. This reduces onboarding times and costs, using biometrics for accurate confirmation.
Founded in 2021, tru.ID aimed to redefine identity verification. Led by CEO Dr. Abid Rafique, with Khalid Bashir (CTO), Sohail Abbasi (COO), and Dr. Sikandar Amin (Chief Engineer, the team formed. Their insight identified the need for swift, secure, affordable remote authentication.
tru.ID serves businesses, like financial institutions, seeking robust security and improved customer experiences. Its mission delivers reliable systems that build trust and optimize operations. The vision emphasizes innovation in identity verification, ensuring efficient authentication for strong relationships.
tru.ID has raised $17.2M across 3 funding rounds.
tru.ID has raised $17.2M in total across 3 funding rounds.
tru.ID has raised $17.2M in total across 3 funding rounds.
tru.ID's investors include MMC Ventures, NHN Ventures, Rob Rueckert, AlleyCorp, Amadeus Capital Partners, DTCP, Episode 1 Ventures, Crystal Huang, Colin Bryant, World Fund, Damien Lane, Jan Dzulko.
tru.ID has raised $17.2M across 3 funding rounds. Most recently, it raised $9.0M Seed in April 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Apr 1, 2022 | $9M Seed | — | MMC Ventures, NHN Ventures, ROB Rueckert | Announced |
| Feb 17, 2021 | $4.2M Venture Round | — | MMC Ventures, NHN Ventures | Announced |
| Feb 1, 2021 | $4M Seed | — | AlleyCorp, Amadeus Capital Partners, DTCP, Episode 1 Ventures, Crystal Huang, MMC Ventures, Colin Bryant, World Fund, Damien Lane, JAN Dzulko, Will Brooks, Will Martin | Announced |
tru.ID (now rebranded as IDlayr) is a technology company that provides a developer-first API platform for secure, frictionless identity verification and authentication using mobile numbers, SIM cards, and devices. It serves financial institutions, fintechs, telcos, e-commerce platforms, and enterprises by solving fraud prevention, reducing onboarding friction, and replacing vulnerable methods like passwords, SMS OTPs, and PINs with invisible, SIM-based checks that complete in under 30 seconds or less than 2 seconds.[1][2][3][4][5]
The product transforms mobile phone numbers into secure digital identities via a "Triple Lock" approach—verifying the mobile number, matching SIM card, and real network-connected device—cutting verification costs by up to 120x, reducing customer dropoff by 40%, and enabling passwordless multi-factor authentication (MFA) across 18-25 markets.[1][3][4][7] This has driven growth through partnerships with mobile network operators (MNOs), integrations with clients like MyTM, and backing from leading VCs, positioning it as a key player in mobile-first identity solutions.[1][4]
Founded in 2021 as part of 4Auth Limited (based in London, UK), tru.ID emerged from serial entrepreneurs who previously built mBlox (now Sinch), Boku, and Nexmo (now Vonage), bringing deep expertise in mobile messaging, payments, and communications.[1][4][6] The idea stemmed from addressing cybercrime's $1 trillion annual cost, exacerbated by remote work and weak passwords/SMS, by leveraging built-in SIM cryptographic security for possession-based authentication that MNOs could monetize.[4][5]
Early traction came from rapid global rollout, partnering with MNOs in 18 markets initially and expanding to 25 countries covering over 2 billion users, with live deployments reducing fraud and onboarding barriers.[4][7] A pivotal rebrand to IDlayr marked its evolution into a comprehensive mobile identity layer, shaking up legacy systems like email and SMS for seamless, invisible verification.[7]
tru.ID rides the passwordless authentication and mobile-first identity trend, capitalizing on rising cybercrime, regulatory demands for strong KYC/AML (e.g., in fintech/telcos), and the shift to frictionless digital onboarding amid remote everything.[4][5] Timing is ideal as 5G and global MNO infrastructure enable SIM monetization, while vulnerabilities in SMS/email (interception, sharing) drive demand for possession factors covering 2B+ users.[4][7]
Market forces like exploding fraud costs and user intolerance for dropoffs (up to 30%) favor its invisible model, influencing the ecosystem by creating revenue for MNOs, empowering developers to build secure apps, and accelerating passwordless adoption in banking, e-commerce, and B2E.[1][5][7] It disrupts legacy IAM, positioning mobile SIMs as the secure "identity layer" for lifecycle management from proofing to ongoing auth.[7]
tru.ID/IDlayr is poised to dominate mobile identity verification as regulations tighten and AI-driven fraud evolves, with expansion via more MNO integrations and enterprise adoption in high-stakes sectors. Trends like zero-trust security, Web3 wallets, and seamless IoT onboarding will amplify its "Triple Lock" edge, potentially scaling to billions more users while evolving influence through platform innovations that make mobile the gold standard for trust.[4][7][8]
This builds on its core strength—turning ubiquitous SIMs into invisible shields—drastically cutting onboarding barriers and fraud in a mobile-first world.[1][3]