London-based Trudenty raises $500K (nearly €457K) in a pre-seed round funding. Fuel Ventures spearheaded the investment, with assistance from Plug and Play, Techstars, and angel investors.
With a focus on consumer data networks, the UK-based firm provides fraud risk analytics to improve customised payment experiences for acquirers and merchants in an effort to reduce fraud and increase customer satisfaction.
With the money, Trudenty will be able to fortify the team and accelerate product development in preparation for a “impactful” debut. The team is dedicated to promoting security and confidence in payments and wants to provide customers the authority to manage their own data.
Fraud is still a problem in payments and commerce, impacting several phases of the customer journey. In order to combat this, Trudenty offers 360-degree real-time customer fraud profiles. This enables retailers to stop fraud and personalise payments and refunds for increased security and confidence.
Currently onboarding merchants in the UK and France, the company was founded in 2022 by Marco Kome and Lerato Matsio. A consumer data network for trustworthy commerce is called the Trudenty Trust Network. Their machine learning-powered smart contract algorithm generates the consumer fraud risk scores that make up the decentralised Trudenty Trust Network.