‘Social fingerprint’ startup Trustev secures $300,000 to tackle online retail fraud

‘Social fingerprint’ startup Trustev secures $300,000 to tackle online retail fraud

Trustev, a startup that offers ‘social fingerprinting’ technology to help tackle ecommerce fraud, has announced a $300,000 angel funding round.

The Cork, Ireland-based company uses social data from services like Facebook, Twitter and LinkedIn to provide a layer of verification that a customer is who they say they are. Online retailers can add the service to their sites with a few lines of code. A ‘Trustev score’ is then generated for the customer, with retailers able to set a threshold for what scores can be approved, blocked or flagged for manual checking.

From a customer convenience side, Trustev data can be stored to pre-populate forms, making it easier for users to enter their details each time they make a purchase.

The funding round, which comes from undisclosed Irish and international angels, to expand the staffing team and drive towards acquiring more customers. The team currently consists of six people, with a further eight being recruited at present.

As a promotional drive, Trustev has launched a site called Somance.com, which identifies the Facebook friend you share the most with, and encourages you to share the match with them in order to be entered into a draw to win an all expenses paid trip to Cork, Ireland – a pleasant part of the world, so we hear.

Image credit: Peter Macdiarmid / Getty Images

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