Truework, a San Francisco, CA-based fintech firm that gives earnings and employment verification for mortgage, auto, and client lenders to approve extra debtors shortly, raised $50m in Collection C funding.
The spherical was led by G Squared, with participation from returning traders Sequoia Capital, Activant Capital, and Khosla Ventures and new traders Certainly, Human Capital, and 4 Rivers Group.
The corporate intends to make use of the funds for deliberate product growth, extra hiring, and fostering continued development as a safe platform for earnings and employment verification.
Led by CEO Ryan Sandler, Truework offers an API-enabled platform for earnings and employment verification. Utilizing it as a Shopper Reporting Company working in compliance with FCRA, banks, lenders and background examine suppliers can confirm any U.S. worker. By means of partnerships with payroll suppliers comparable to Gusto, Zenefits, and BambooHR, Truework has a big instantaneous verification community with over 35 million workers.
From native credit score unions to giant banks, the corporate connects shoppers to greater than 17,000 lenders throughout the nation, typically enabling earnings verification inside seconds, growing applicant conversion and decreasing verification value per mortgage.
Truework will service greater than 12 million earnings and employment requests in 2022, from greater than 20,000 small companies and 100 enterprises. Its mortgage prospects embody 20 of the highest 25 lenders, like Fairway Unbiased Mortgage, Caliber, Assured Price, Residents Financial institution, and LoanDepot. Its current growth into client lending has received prospects like Carvana, Octane, and Determine.