DLA Piper Canada represented investor Mouro Capital in $476 million Series D funding round‎ for Trulioo

On June 7, 2021, Canadian-based global identity verification specialist Trulioo Information Services Inc. announced it had secured CDN$476 million in a TCV-led Series D funding round. With this Series D round, Trulioo now possesses a valuation of CDN$2 billion. DLA Piper Canada represented Mouro Capital (formerly Santander Fintech) as one of the key investors in this transaction, in addition to representing Mouro Capital in an earlier round.

TCV is a new addition to Trulioo’s investor base. The Silicon Valley-based investor has backed the likes of Airbnb, Facebook, Netflix, Spotify, and Peloton, as well as major Canadian players like Wealthsimple and Clio. Trulioo’s latest round also includes existing investor Citi Ventures, Blumberg Capital, Mouro Capital and American Express Ventures. Trulioo’s Series D round consisted of more than CDN$181 million in primary financing and nearly CDN$295 million in secondary capital.

Trulioo’s CDN$476 million round allows the start-up to take advantage of a market that is expected to reach USD$17.8 billion globally by 2026. Founded close to a decade ago, Trulioo has developed a digital identity verification software solution that operates as a single API integration. With offices in Vancouver, San Francisco, and Dublin, Trulioo offers global identity verification for 330 million businesses, which encompasses 5 billion consumers.