Trustap is a technology company.
Trustap has raised $800K across 1 funding round.
Trustap has raised $800K in total across 1 funding round.
Trustap is a fintech company building a secure digital transaction platform that provides escrow-style payments for online and in-person marketplaces, protecting buyers and sellers from fraud by holding funds until transaction milestones are met.[1][2][3][4] It serves marketplaces, ecommerce stores, and individuals engaging in peer-to-peer transactions with strangers, solving the core problem of trust in high-risk deals like ticket resales or private sales through features like payment holding, shipment tracking, dispute resolution, KYC/AML compliance, and multi-currency support.[1][2][4] Founded in 2016 or 2017 in Cork, Ireland, Trustap has raised $8.92M–$10M total (including a $5.5M Series A about a year ago led by TX Ventures), grown to 35 employees with offices in Croatia, the UK, and the US, and secured over 40 global partners while focusing on international expansion, especially in emerging markets.[1][2][5]
Trustap was founded by CEO Conor Lyden, an engineering student at University College Cork (UCC), in 2016 (per CB Insights) or 2017 (per company sources and UCC).[1][2][3] The idea emerged from Lyden's personal frustration buying resale football tickets from strangers online while traveling to UK games—he felt uneasy sending money without guarantees, inspiring an escrow solution during UCC's IGNITE program.[2][3] Early traction came from awards like Ireland’s Best Young Entrepreneur (Regional), Best Startup at Madrid's Online Marketplace Conference, and Lyden's inclusion in the Sunday Business Post’s 30 Under 30 in 2019.[2] Pivotal moments include a $3.4M seed round, integration with Stripe for secure payments, and recent $5.5M Series A, enabling global scaling as the first investment from Digital Irish's $1M venture fund.[1][2][5]
Trustap stands out in the payments and escrow space through these key features:
Trustap rides the explosion in peer-to-peer marketplaces and ecommerce, where fraud costs billions annually amid rising online/in-person stranger transactions (e.g., tickets, used goods).[1][3] Timing is ideal post-pandemic, with global digital commerce booming and emerging markets demanding localized trust solutions amid weak native protections.[2] Favorable forces include Stripe partnerships enabling scalability, regulatory pushes for KYC/AML, and investor interest in fintech (e.g., Digital Irish fund, TX Ventures).[1][2] It influences the ecosystem by powering secure transactions for 40+ partners across Europe, US, Southeast Asia, reducing chargebacks for platforms and boosting seller confidence in high-risk niches.[2][4]
Trustap is poised for accelerated growth via Series A momentum, targeting more marketplace integrations and emerging market localization with local payment partners.[1][2] Trends like AI fraud detection, cross-border ecommerce surges, and Web3 peer-to-peer shifts will shape it, potentially expanding to new verticals like services or NFTs. Influence may evolve from niche escrow player to core infrastructure for global marketplaces, especially if it captures high-volume UK/US deals as hinted in funding news.[5] This builds on its origins in everyday trust gaps, positioning Trustap as a safeguard in an increasingly stranger-filled digital economy.
Trustap has raised $800K in total across 1 funding round.
Trustap has raised $800K across 1 funding round. Most recently, it raised $800K Seed in December 2019.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2019 | $800K Seed |