Draft:TransCrypts

TransCrypts
Company type
Private
IndustryComputer Software
Founded2020
FounderZain Zaidi Ali Zaheer
Headquarters
Canada
ProductsRecord Management
Websitetranscrypts.com

TransCrypts is a Canadian digital identity and credential verification company with offices in Toronto, Ontario and San Francisco, California.[1] The company develops tools for storing, verifying, and sharing records, including employment, income, and health credentials.[2][3]

The company has been described as part of the self-sovereign identity and digital credential verification sector, using cryptographic technologies to allow individuals to access and share verified records with third parties.[4][5]

History

In 2020, TransCrypts was founded by cousins Zain Zaidi and Ali Zaheer.[6] The idea for the company was influenced by Zaidi's experience during a graduate-school application process, when a third-party service failed to deliver his undergraduate transcript to the school.[7] The company later developed a records-management platform intended to let individuals access and share verified personal records with third parties,for credential verification.[8]

In 2021, TransCrypts won Silicon Valley Business Plan Competition, winning a $10,000 award.[9] The San Francisco Business Times featured TransCrypts cofounder as an "Under 25" founder and reported that TransCrypts had 45 customers including Spirit Airlines, Urban Outfitters, and Zoom Communications. [10].

In 2023, TransCrypts raised a $2.4M USD pre-seed round from investors Mark Cuban, Protocol Labs, and Techstars.[11] That year in response to the Russo-Ukrainian war, TransCrypts granted Ukrainian refugees free access to their medical records on the TransCrypts platform[12]. These refugees would be able to securely access and share their respective records in the host countries where they were receiving treatment [11]. To date TransCrypts' medical records have been used by over 100,000 Ukrainian refugees and has led to TransCrypts being recognized for its social impact by The Globe & Mail and Forbes.[13][14]

In an interview with Bloomberg, Zaidi is quoted to have said that their medical records platform has received HIPPA certification as of December 2025 with plans on bringing their medical record platform to North America.[12] At the 2026 commencement address at San Jose State University, Zaidi states that they expanded their philanthropic efforts to eight countries. [15][16]

In 2025, TransCrypts raised a $15M USD seed round from investors Pantera Capital, Lightspeed, and The Motley Fool.[17] In an interview with Axios, Mark Cuban stated, “Trust online is under attack with AI fraud and deepfakes. TransCrypts puts control back in people’s hands, making verification faster, smarter and more secure". TransCrypts has served over 450 enterprise customers and processed over 4M verifications and has grown to the 5th largest verification provider in the United States of America.[18][19]

Reference section

  1. ^ Riehl, Alex (2025-10-08). "Mark Cuban-backed TransCrypts closes $20-million CAD seed round | BetaKit". Retrieved 2026-05-14.
  2. ^ Metinko, Chris (2025-10-08). "Exclusive: Digital identity startup TransCrypts raises $15M". Axios. Retrieved 2026-05-14.
  3. ^ "Workplace Tech Gets a Human-Centered Makeover: 3 Startups Leading the Way". www.shrm.org. Retrieved 2026-05-14.
  4. ^ "Beyond Gatekeepers: How Blockchain Transfers Data Ownership Back to Employees". www.shrm.org. Retrieved 2026-05-14.
  5. ^ Liang, Lu-Hai (2025-10-09). "SSI startup TransCrypts raises $15M to expand digital identity, credential verification platform | Biometric Update". www.biometricupdate.com. Retrieved 2026-06-06.
  6. ^ "From SJSU Student to Startup Visionary: Zain Zaidi's Journey to Co-Founding TransCrypts | SJSU NewsCenter | SJSU". blogs.sjsu.edu. Retrieved 2026-05-14.
  7. ^ Lorinc, John (2026-04-22). "Never Lose Your Records Again | U of T Magazine". U of T Magazine. Retrieved 2026-05-14.
  8. ^ Venetis, Tom. "TransCrypts puts identity verification into people's hands". www.technx.ca. Retrieved 2026-05-23.
  9. ^ "Past Winners | Silicon Valley Center for Entrepreneurship". www.sjsu.edu. Retrieved 2026-05-14.
  10. ^ "Bay Area Inno Under 25 2021: Zain Zaidi, Founder and CEO, Transcrypts". San Francisco Business Times. 2021-09-16. Retrieved 2026-05-14.
  11. ^ a b Alcaraz, Charlize (2023-03-24). "Backed by Mark Cuban-led $2.4 million round, TransCrypts uses blockchain to help Ukrainian refugees access health records securely". Retrieved 2026-05-14.
  12. ^ a b "- BNN Bloomberg". BNN. 2025-12-22. Retrieved 2026-05-14.
  13. ^ "Changemakers: Meet 20 emerging leaders reinventing how Canada does business". The Globe and Mail. 2025-02-21. Retrieved 2026-05-14.
  14. ^ "Forbes 30 Under 30 2026: Social Impact". Forbes. Retrieved 2026-05-14.
  15. ^ "Commencement". www.sjsu.edu. Retrieved 2026-06-01.
  16. ^ "Caps High, Spirits Higher: Nearly 8,600 Spartans Graduate This Spring | SJSU NewsCenter | SJSU". blogs.sjsu.edu. Retrieved 2026-06-01.
  17. ^ Clinton (2025-10-08). "TransCrypts Raises $15M Seed Round to Redefine Digital Identity Verification". Ventureburn. Retrieved 2026-05-14.
  18. ^ MacAndrew, Jake. "AI fraud verification startup secures $20M in seed funding". CFOtech Canada. Retrieved 2026-05-23.
  19. ^ "Is TransCrypts Riding the Next Wave of AI Infrastructure? 3 Reasons Tech Investors Will Want to Keep an Eye on This Startup". The Globe and Mail. Retrieved 2026-06-01.


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