Trustap, a secure payment gateway, has successfully secured $5.5m in Series A funding, bringing its total capital raised to over $9m.
This latest investment round was led by TX Ventures, with participation from SeedX, Partners Resolute, Aperture, and existing shareholders MiddleGame Ventures, ACT VC, Atlantic Bridge, and FurthrVC, according to a report from Tech.eu.
Trustap is designed to streamline marketplace transactions by acting as the merchant of record. This enables it to handle payments, logistics, and customer support, thereby boosting margins and overall revenues for marketplaces. Its escrow-style payment system is crucial for building trust between buyers and sellers, facilitating transactions of both low and high-value items—from electronics and tickets to vehicles and luxury goods.
Trustap CEO Conor Lyden explained, “We plan to invest in our GTM to ensure we make the most of some of the recent partnerships we have established. We’ll also look at adding further product features to cater for the wide range of use cases we deal with across both C2C and B2B marketplaces.”
Krzysztof Bialkowski, Managing Partner at TX Ventures, also shared his perspective 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 offers just that by providing escrow-like payment options and lifting the operational burden off the shoulders of marketplaces.
“The product is immensely scalable, proven by the global presence of clients and the numerous categories Trustap facilitates among buyers and sellers.”
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