A new Cork technology startup has received €40,000 and a place at a prestigious mentoring academy. Trustev is the newest addition to O2’s parent company Telefónica’s Wayra Academy- established to promote innovation and encourage new talent in Latin America and Europe- after winning a spot during a fiercely competitive pitching process. Trustev is one of 11 start-ups that will be based in the state-of-the-art facility at O2’s headquarters in the Dublin docklands.
The company, established last year, provides real-time online identity verification using social fingerprinting technology, making it easier for retailers to spot and prevent fraudulent transactions. The technology- developed locally over the past year- examines patterns in the data generated by a person’s activity online in order to determine whether the person is genuine or part of an online fraud attempt.
The investment will be used to accelerate Trustev’s development through the hiring of additional staff in both its Cork and Dublin offices. The company currently employs six staff with an additional eight being recruited at present.
Trustev’s co-founder and chief technologist, Chris Kennedy said the placement would allow them “incredible access” to expert advice from Telefónica and technology companies across the globe.
Wayra Dublin’s director Karl Aherne added that the winning companies have the potential to be “massive global success stories” for Ireland.