Trully, a Mexico-based identity verification startup, raised US$4.1M

Trully, a platform focused on digital fraud prevention announced the raise of a US$4.1 million seed round led by Costanoa Ventures. In the region, customer identity verification remains the main challenge to reduce fraud in digital channels, as 44% of frauds carried out were related to this problem. Trully developed software to improve the authentication of KYC (Know Your Customer) systems and prevent identity theft and financial fraud through facial recognition using machine learning to obtain more accurate data.