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Seed and angel funders invest in Mexican face biometrics anti-fraud vendor

Seed and angel funders invest in Mexican face biometrics anti-fraud vendor
 

A Mexican biometric fraud prevention startup says it has closed a seed round of funding valued at $4.1 million.

The company, Trully, reports that the round was led by Costanoa Ventures with participation from executives at Belvo and Yuno, according to Latin American business publication Contxto.

Trully software is designed to improve KYC authentication tools and stop ID theft and financial fraud using facial recognition code. It can be integrated into customer onboarding processes with a single line of code, according to its website.

The money will be invested in the products and recruiting engineering talent, according to the company.

Trully’s top three executives all come from RappiCard. Fernando González Paulin is CEO, Carl Handlin is chief technology officer and Eric Balderrama is chief operations officer.

Still in testing, Trully’s selfie biometrics solution will first address the fintech and e-commerce sectors, according to the company.

The funding represents the most in months for any company in the biometrics space in a seed round.

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