TX Ventures led the USD 5.5m Series A round of Ireland-based Trustap. The investment will fuel the company to continue its global expansion, enabling online marketplace participants to transact in full trust.

Trustap provides marketplaces an embedded end-to-end transaction capability by managing payments, logistics and customer support on their behalf. One of the key features is escrow-style payment, which helps buyers and sellers transact in full trust on the platforms.

‍The Ireland-based company announced that it has added $5.5 million in funding led by TX Ventures.

Coinvestors in the round include new investors SeedX, Partners Resolute, Aperture and existing shareholders MiddleGame Ventures, ACT VC, Atlantic Bridge & FurthrVC.

Trustap CEO Conor Lyden explained how this fundraise will help the company moving forward.

“We are delighted to have closed this round and it’s 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 make the most of some of the recent partnerships we have established. We will also look at adding further features to cater for the wide range of use cases we deal with across both C2C and B2B marketplaces.”

‍Krzysztof Bialkowski, Managing Partner of TX Ventures comments on the investment:

“Our view is that within the near-mid term, marketplaces will have to offer trusted payment solutions otherwise they will miss out on new business. Trustap, by providing escrow-like payment options and by lifting the operational burden off the shoulders of marketplaces, offer just that. The product is immensely scalable which is proven by the global presence of clients and the numerous categories Trustap facilitates among buyers and sellers. The easy-to-implement solution, the underlying trends in the marketplace industry and the execution-driven team will play a pivotal role for Trustap to become the leading infrastructure provider for trusted payments around the globe. It is a special addition to our fintech portfolio.”

Featured image credit: Trustap CEO Conor Lyden