Trulioo only entered the Asia-Pacific region (APAC) in 2023, but its presence there is expanding quickly. The Vancouver-based identity tech company reported a 64 percent year-over-year growth in APAC revenue in 2024.
The exceptional growth in the APAC region is a testament to the strength of our platform and the deep trust customers have in Trulioo.
Vicky Bindra, Trulioo
The firm attributed the spike to “significant growth” in identity verification transactions. There was a 37-percent jump in demand from online stores and a 55-percent increase from FinTech enterprises, according to the brand.
“The exceptional growth in the APAC region is a testament to the strength of our platform and the deep trust customers have in Trulioo to support their global expansion,” recently appointed CEO Vicky Bindra said in a statement.
Ivan Yang, Trulioo’s APAC operations director, claimed that the growth “ties directly” to local customers’ changing demands.The company said there was a “boom” in international payments matched by regulatory changes and mounting fraud risks. Worldwide, the company reported a 325-percent increase in document verifications in 2024.
RELATED: Trulioo taps former Nuvei exec Vicky Bindra to take over for retiring CEO Steve Munford
Trulioo was founded by Stephen Munford (who retired in 2025) and Tanis Jorge in 2011. It grew quickly by landing key customers for its identity service, starting with Facebook (now Meta) in 2012 and adding key clients like Google and Microsoft’s LinkedIn. It bought Denmark’s HelloFlow in February 2022 to help with onboarding users.
While Trulioo mostly courted smaller businesses at first, it shifted its focus to medium- and large-sized enterprises in September 2022. It laid off 10 percent of staff as part of the transition. In addition to expanding to Asia in the following year, it launched a global identity platform and capitalized on the AI trend with machine learning technology that could streamline identification.
Truiloo remains a privately held company and isn’t required to disclose its finances. However, it noted both a 34-percent increase in marketplace transitions last year, as well as a 21-percent climb in payments.
Feature image courtesy of Trulioo.