Trustev raises $3m

Investors include Greycroft Partners, Mangrove Capital Partners, ACT Venture Capital, Wayra – Telefónica's global start-up accelerator – and Enterprise Ireland. 

The funding will support the development of the company's e-commerce security and fraud protection technology. The company intends to expand into the US and will soon open an office in New York.

Company
Founded in Cork in 2012, Trustev is an e-commerce security and anti-fraud solutions developer. The firm's product verifies the identity of online shoppers to protect against fraud.  

Around 35 companies around the world currently use Trustev's authentication technology. The firm expects to process 10 million transactions per week for e-commerce companies by the end of 2013.

People
Ian Sigalow is a partner at Greycroft and worked on the deal.  

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