Truework lands $50m Series C funding

Truework, a US-based fintech company that assists lenders with income and employment verification, has raised $50 million in a Series C fundraising round.

Sequoia Capital, Activant Capital, and Khosla Ventures—all previous investors—joined G Squared in leading the round. Human Capital and Four Rivers Group are some recent investors. According to Truework, the funding will help its product development, recruiting, and platform growth goals.

Truework, a platform driven by APIs for income and employment verification, was founded in 2017. The company claims it streamlines the financing process for both lenders and borrowers by digitising the process for banks, lenders, payroll providers, and HR departments.

“Access to over 35 million (and counting) US employee records,” according to Truework CEO Ryan Sandler, allows lenders to “convert more borrowers and make faster credit decisions with verified income.”

The Series C capital, he continues, will assist the company in building a “more efficient, secure, and stable credit system.”