Digital Start-Up Truzo Seeks To Enable Seamless Transactions Between Buyers And Sellers
Digital Start-Up Truzo Seeks To Enable Seamless Transactions Between Buyers And Sellers. Individuals and companies doing business with each other can struggle to estabilsh trust — not without good reason. Corruption and payment fraud are prevalent across Africa. According to Truzo, 91% of SMEs in South Africa are impacted by late payments, and non-payment is commonplace in many personal transactions.
Truzo is a digitised escrow platform, enabling buyers and sellers to transact in a simple, safe and secure manner. They ensure buyers get what they’ve paid for, and that sellers and service providers get paid on delivery. Truzo makes it possible to safely sell and buy products and services for an affordable fee, covering transactions that range from as little as R100 to R100 million or more. They also verify all parties involved, to reduce the risk of fraud.
The company was co-founded by Andrei Migatchev, who is a versatile innovator with 18 years’ experience in various IT roles and a natural leader with the ability to drive a team in order to deliver high quality work, on time, while fostering the growth and development of team members through strong mentorship skills. Migatchev is also goal driven with extensive technical expertise; he is an out of the box thinker who strives to stay at the foreground of technological innovation.
It was also co-founded by Terence Naidu, who is the Managing Director of Envisionit Group of Companies such as Capital Solutions, Deep AI, Investments, Stock Lending Solutions & Truzo.com. He is also the founder and trustee of the Envisionit Dare to Dream Bursary Foundation and Founder of The Envisionit Prize. Naidu had more than 18 years of experience in the financial services industry, specifically dealing with funding & structuring, hedge funds, private equity and securities lending.
