Thursday, 13 June 2013

Trustev -Irish Technology Company named Europe’s Top Startup by EU Commission


Trustev, the Irish fraud prevention startup making online shopping and sharing safer and more transparent for all, was tonight named Europe’s Top Startup by the European Commission’s Tech All Star initiative.

The three finalists Trustev, SnapFashion and EcoChain presented today at the UK’s Founders Forum, an invitation only, elite event for global investors and startup founders from across the globe. The finalists, having already come through a rigorous application process and a similar grilling last week in Berlin, presented in front of some of the world’s top investors where they were grilled on all aspects of their businesses and technologies.

At 6.00pm GMT, Trustev was announced as the Tech All Star’s Champion. Accepting the award from EU Commission Vice President Neelie Kroes, Trustev co-founder and CEO, Pat Phelan thanked the team behind Trustev and his cofounder Chris Kennedy for their work to date. “When Chris and I started off, we had this giant problem of online fraud in front of us, along the road we’ve been so lucky to find and bring together an amazing team of people and slowly but surely we know that we’ll be able to eliminate the scourge of fraud thats preventing online commerce from reaching its potential. We’d especially like to thank all the other technology startups in Ireland who have helped us behind the scenes, without their support and encouragement it would have been a very lonely road to get here; that support is what really makes Ireland the best place in Europe to start a startup.”

Trustev provides real time, online identity verification for businesses operating online so merchants can be certain of who they’re transacting with and eliminate the possibility of fraud. Their proprietary Social Fingerprinting technology uses the ridges created by a user’s online interactions to determine whether or not they’re a real person and then matches that with other data sources to confirm their identity, while ensuring the user’s privacy at all times.

Trustev is part of Wayra Ireland, an international programme run by Telefonica to help accelerate startups by providing them with a world class environment and access to commercial connections through the international Wayra network.