Pictured: Conor Lyden, CEO, Trustap
Each week Business & Finance highlights an up-and-coming start-up making waves in its industry. This week we look at Trustap, a start-up in Cork. Trustap is an Irish-based transaction platform which facilitates buying and selling online or in person without the risk of being defrauded. They have partnered with Preloved, one of the UK’s leading classified marketplaces.
What is it?
Trustap is a secure milestone transaction platform that completely protects you from being scammed when you want to buy or sell with someone you don’t know. Whether your transaction is online or face to face, Trustap has you covered. Powered by Stripe’s secure payment technology, Trustap secures the buyer’s money in a safe hold account until all the transaction milestones are met.
Unique, flexible and low-cost, Trustap is compatible across all platforms. Whether you’re using a laptop, a phone, or a tablet, you can use Trustap to transact with complete peace of mind.
Who’s behind it?
The company was set up by Cork entrepreneur Conor Lyden in 2017. After graduating with a Civil Engineering degree from UCC. Conor entered the college’s business incubation programme, Ignite, where Trustap was formed.
How is it funded?
In total, Trustap has raised more than €2m of seed funding, backers include early Stripe investor Liam Casey. The Cork based start-up is now preparing for a €10m Series A funding round.
Trustap provides online classified marketplaces access to the digital economy. Marketplaces understood they had to innovate away from the traditional transaction model of consumers meeting in-person and exchanging cash. Trustap’s platform facilitates buying and selling online or in person without the risk of being defrauded.
Trustap just announced its partnership with Preloved.co.uk, one of the largest classified advertising sites in the UK across 500 plus categories. The company is growing quickly and this partnership, combined with their upcoming Series A funding, will create over fifty new jobs as they expand to new markets.