Consumer data provisioning company Trunomi pulled in its third round of funding today. The $3 million seed-round brings the company’s total funding to $8.3 million.
The round was co-led by existing investor Saturn Partners and newcomer Fintonia, whose chairman and CEO Adrian Chng has joined Trunomi’s board. Several other existing investors also contributed.
The California-based company aims to give consumers control of how their own Personal Identifiable Information (PII) is used by banks, while offering banks a way to safely create, manage, and share consumer information in a cost-efficient manner. At FinovateEurope 2015 in London, the company’s CEO and founder Stuart Lacey launched TruMobile, a customer-focused “consent engine” that creates privacy policies to allow the sharing of consumer PII data across platforms. In today’s press release Lacey said:
Consumers globally are becoming increasingly aware of the value of their own data. They are also living through a period of intense digitization in financial services. Together with our investors, we recognize that the pressure is truly on financial services providers, not only to meet these market pressures but to operate in full compliance with a raft of new, global data-privacy regulations.
Founded in 2013, Trunomi has offices in Bermuda, Dublin, and Silicon Valley. In April, Trunomi partnered with InAuth to help financial services companies manage consumer data during mobile onboarding. In June, the company took home two awards at the Benzinga Fintech Awards.