United Ventures Leads €5M Seed Round in Trustfull

Milan, July 15, 2022 – United Ventures SGR SpA, an Italian venture capital fund specializing in investments in digital technologies, is the lead investor in a Seed round of investment of 5 million euros in Trustfull, specializing in the analysis of digital footprints and in the development of risk assessment models based on artificial intelligence.

Trustfull, founded in Milan, operates in the Identity Verification sector, whose enterprises aim to verify customers before they are granted an online product or service. The global size of the market is expected to grow from USD 8.6 billion in 2021 to 18.6 billion by 2026.

After having raised 1.6 million euros in 2020 from a pool of Italian business angels and industrial investors, with this new round the Milanese scaleup brings the total capital raised to 6.6 million euros.

Trustfull created the first platform capable of assessing the quality of online customers through the detection of digital footprints in full compliance with privacy regulations.

By analyzing information such as telephone number, e-mail address, IP address, device, and browser, the platform captures hundreds of signals in real-time that are used by companies for different applications. Trustfull offers the possibility of using these signals to feed proprietary scoring algorithms for lead qualification, credit scoring, fraud prevention, and identity verification.

In the first year of activity, the Trustfull platform processed over 3 million queries and closed agreements with important Italian and international customers such as Facile.it, Sisal, Banca Sella, Younited, Trulioo and Boku.

The new financial resources will be used to increase the number of signals collected, develop new scoring algorithms, launch a new solution for SMEs and expand the Trustfull team.

The excellent results achieved in Italy come from the versatility and scalability of our technological platform and created the conditions to accelerate our development plan globally. The trust that has been recognized in us by United Ventures testifies the validity of the path we are taking and is a reason for great satisfaction", said Marko Maras, Chief Executive Officer of Trustfull."The analysis and use in full compliance with the rules of digital footprints is a crucial point for all companies, in every sector. The solution that the very strong Trustfull team has been able to develop will certainly become an international standard.

Paolo Gesess Managing Partner of United Ventures