Crossfin invests in South African fintech startup, truID

Crossfin Ventures has invested in a South African fintech startup known as truID, a platform that provides financial institutions with secure access to consumer banking data. The company was established by Dmitry Drabkin, Christian Schuit and Paris Valakelis in order to assist financial service providers to access consumer banking data. The company has experienced exponential growth due to its growing customer base in the South African financial services sector.

Crossfin Ventures is a fintech investor that is growing its acquisition pipeline in order to be Africa’s leading independent fintech group. Crossfin backs innovative companies that focus on solving specific everyday pain points that are not adequately covered by existing products in the market. Crossfin’s portfolio processes over 134 million card and 20 million mobile-enabled payment transactions per annum with an aggregated value of over R79-billion (US$4.8-billion).

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