TruePay is a B2B Buy Now Pay Later (BNPL) startup whose innovative payment solution helps SMB retailers have free and secure access to credit.
TruePay’s mission is to build a B2B “buy now, pay later” network where sellers (industries) can grant credit without being exposed to default risk and where buyers (merchants) access credit to buy inventory from their suppliers seamlessly and costlessly.
TruePay was founded in 2020 by Pedro Oliveira and Luis Eduardo Cascão. The company is headquartered in São Paulo, Brazil.
TruePay unlocks credit card receivables and transforms them into purchasing power. By using such receivables as collateral, retailers can guarantee the payment to suppliers and access better payment conditions and more working capital, while suppliers are no longer exposed to default risk.
TruePay has clients in all states of Brazil, with a merchant base that is “in the thousands” after just five months of operations.
TruePay is backed by Kaszek, Addition, Monashees, ONEVC, Global Founders Capital, and others. The company raised $32M in Series A round on Nov 23, 2021. This brings TruePay's total funding to $40.7M to date.