Blockchain-driven smart contracts startup Trustatom has raised US$100,000 in early seed funding from a few angel investors, including Brian Cartmell and Vinny Lingham. The funds will be used to strengthen the Trustatom team and support the launch a due diligence SaaS called of CredyCo.
Founded by Yurii Rashkovskii, the former CTO of Bex.io – “the Bitcoin Brokerage in a Box”, the Canadian company launched its Trustatom ID technology, which is a mobile privacy-respecting identity and credentials application. Integrated with other APIs Trustatom provides helps businesses to reliably identify and verify their customers, as well as improve the security of their customers by using cryptographic signatures for authorizations.
As a part of their market strategy, Trustatom is launching its first end-user product, CredyCo, over the course of the first half of 2015. CredyCo is a SaaS for automating document-based investment due diligence processes.
Built on Trustatom’s technology, CredyCo significantly reduces the complexity of the manual due diligence process through the use of timestamped and mathematically irrefutable, signed statements on KPIs (Key Performance Indicators), reports, milestones and other information. A company seeking funding can use CredyCo to document its progress. For example, it can securely record its financial and growth metrics, providing an efficient way for investors to gauge company’s credibility. This helps both investors and companies shorten the closure time and increase the number of successful deals.
Vinny Lingham noted regarding his investment
Bitcoin has not only transformed our understanding of money and payments. It has also enabled cheap and efficient trust in a fast, globally interconnected world. Trustatom is strategically capitalizing on this understanding.
Lingham is a South African Internet entrepreneur who is the co-founder & CEO of Gyft, a mobile gift card company backed by Google Ventures.
Brian Cartmell is famous for being CEO of domain registry giant eNIC Corporation before it was sold to Verisign in 2001. According to his website,
Cartmell’s primary interests are individual freedom, bitcoin, seasteading, artificial intelligence, space technologies, life extension, and locally produced food.