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§ Private Profile · Mclean, VA, USA
Verituity is a technology company.
Verituity has raised $30.0M across 2 funding rounds.
Key people at Verituity.
Verituity has raised $30.0M in total across 2 funding rounds.
Verituity delivers a verified digital payout platform, fundamentally transforming how businesses manage disbursements. The company provides Zero Trust Payout Verification™ and intelligent payment choice, ensuring first-time and on-time verified payouts while reducing complexity, risks, and operational costs. Its technical approach emphasizes strengthening payout speed, accuracy, and visibility, offering a comprehensive solution for digital transaction management.
The company was founded by Ben Turner, who serves as CEO, stemming from an insight into the inefficiencies and risks inherent in traditional payout processes. Turner recognized the need for a more secure and intelligent system that could not only streamline transactions but also unlock new value for both payers and payees. This foundational understanding guided the development of a platform designed to do things differently and better in the realm of money movement.
Verituity serves a diverse clientele, including financial institutions, large insurance companies, and entities within the entertainment sector. These customers leverage the platform to modernize their payout infrastructure, reduce fraud, and improve payee satisfaction by offering flexible payment options. The company's vision is to redefine business disbursements, enabling organizations to move beyond mere transactions and establish payouts as a strategic advantage.
Verituity has raised $30.0M in total across 2 funding rounds.
Verituity's investors include Forgepoint Capital, Sandbox Industries, Ardent Venture Partners, Teamworthy Ventures.
Verituity has raised $30.0M across 2 funding rounds. Most recently, it raised $20.0M Series B in June 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 1, 2024 | $20M Series B | ForgePoint Capital, Sandbox Industries | Ardent Venture Partners | Announced |
| May 1, 2021 | $10M Series A | Ardent Venture Partners, ForgePoint Capital | Sandbox Industries, Teamworthy Ventures | Announced |
Key people at Verituity.
Verituity is a technology company that provides a digital payments platform focused on delivering first-time and on-time verified payouts for banks, insurance companies, and businesses across various industries. Its platform leverages a proprietary Zero Trust Payout Verification™ technology to validate payee and account information in real-time, significantly reducing payment fraud, errors, and remediation costs. Verituity enhances user satisfaction by offering dynamic payment choices, allowing payees to select from multiple payout methods such as ACH, Wire, Zelle®, RTP®, push to debit, virtual card, and check. This automation streamlines payout processes, lowers operational costs, and modernizes treasury services for its clients[1][2][5].
Founded in 2020 and headquartered in McLean, Virginia, Verituity was established by a team of seasoned executives with decades of experience in payouts, banking, technology, and security. The leadership includes CEO Ben Turner, COO Chris Smith, and Chief Product Officer Anthony Renzette, all bringing extensive backgrounds in digital product innovation and operational excellence from top financial and tech firms. The company emerged to address the widespread challenges of payment fraud, errors, and inefficiencies in legacy payout systems, aiming to transform payouts from costly transactions into new sources of value for banks, payers, and payees[2][3][4].
Verituity rides the growing trend of digital transformation in financial services, particularly the modernization of treasury and payout operations. As businesses and banks seek faster, safer, and more flexible payment solutions, Verituity’s platform addresses critical market demands for verified, fraud-resistant payouts with real-time payment choice. The timing is favorable due to increasing regulatory scrutiny on payment security, rising customer expectations for payment speed and convenience, and the proliferation of diverse digital payment rails. By enabling seamless integration of multiple payment methods and reducing payout failures, Verituity influences the broader ecosystem by setting new standards for payout accuracy, efficiency, and user experience[1][2][5].
Verituity is poised for accelerated growth, supported by over $28 million in funding and strategic partnerships with investors like Forgepoint Capital and Sandbox Industries. The company’s focus on verified payouts and intelligent payment choice aligns with ongoing fintech trends emphasizing security, automation, and customer-centric payment experiences. Future developments may include deeper integration with global payment networks, expansion into new verticals, and enhanced AI-driven payment intelligence. As digital payouts become a critical competitive differentiator, Verituity’s influence is likely to expand, helping reshape how banks and businesses manage and deliver payouts worldwide[3][4][5].
