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Forbes names Irish business 'hot global startup'

Trustev was set up in 2012 and helps to prevent online fraud.

AN IRISH COMPANY has been named as one of the hottest global start-ups by Forbes.

Trustev was founded by Pat Phelan and Chris Kennedy and is based in Cork. It works in the area of e-commerce and fraud elimination, and says it works with companies “to smash online fraud and maximise your profits”.

According to Forbes, it verifies the identity of online shoppers by “generating a digital ‘fingerprint’ through various social media accounts which prove you are who you claim to be”.

The company has raised $3 million from investors since it was founded in 2012 and it reduces the possibility of credit card or identity fraud for online retailers.

Tech Crunch reports that the company has just over 60 customers and that it processes on average two million customer transactions a week.

Earlier this year, Trustev was named the EU’s Top Startup by the EU Commission.

Read: And the Forbes world’s most powerful person is…>

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