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TX Ventures with first Irish Fintech investment – Fintech Schweiz Digital Finance News
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TX Ventures has led Ireland-based Trustap’s $5.5 million Series A round. The investment will fuel the company’s continued global expansion, enabling online marketplace participants to transact with complete trust.
Trustap provides marketplaces with an integrated end-to-end transaction capability, managing payments, logistics and customer support on their behalf. One of the key features is escrow-style payment, which helps buyers and sellers transact with full trust on the platforms.
The Ireland-based company announced it has added $5.5 million in funding led by TX Enterprises.
Co-investors in the round include new investors SeedX, Resolute Partners, Aperture, and existing shareholders MiddleGame Ventures, ACT VC, Atlantic Bridge, and FurthrVC.
Conor Lyden, CEO of Trustap, explained how this fundraise will help the company move forward.
“We are pleased to have closed this round and it is great to have added new investors to our cap table who bring with them a wealth of experience in our core markets. Our plan is to invest in our go-to-market to ensure we are leveraging some of the recent partnerships we have established. We will also look at adding additional capabilities to meet the wide range of use cases we are addressing across C2C and B2B marketplaces.”
Krzysztof Bialkowski, Managing Partner of TX Ventures comments on the investment:
“Our view is that in the near medium term, marketplaces will need to offer trusted payment solutions or they will lose new business. Trustap offers just that by offering escrow-like payment options and taking the operational burden off marketplaces’ shoulders. The product is immensely scalable, as demonstrated by the global customer footprint and the numerous categories Trustap facilitates between buyers and sellers. The easy-to-implement solution, underlying trends in the marketplace industry and execution-focused team will play a critical role in Trustap becoming the leading trusted payment infrastructure provider worldwide. It is a special addition to our fintech portfolio.”
Featured Image Credit: Trustap CEO Conor Lyden
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