TransCrypts Raises $15M Seed to Expand Blockchain Identity Platform

TransCrypts, a Canadian blockchain-based digital identity startup, has raised $15 million in a seed funding round led by Pantera Capital, with participation from investors including Mark Cuban and Lightspeed Faction. The company aims to empower individuals with full control over their digital identity, encompassing employment, health, and educational records, amidst rising concerns over AI-driven fraud and digital misrepresentation. Since its founding in 2020, TransCrypts has grown significantly, now serving over 450 enterprise customers and 4 million users globally, with its Fortune 100 client base doubling in 2025. The platform uses blockchain infrastructure to enable users to securely own and share verified credentials without relying on centralized intermediaries and recently received HIPAA certification to handle health data securely. With the new funding, TransCrypts plans to expand its credential ecosystem and scale its team, focusing on growth in the U.S. and Canada. Investor Mark Cuban highlighted the platform's role in combating trust issues online caused by AI fraud and deepfakes, while CEO Zain Zaidi emphasized the goal of giving people 100% control of their identity.